European Union energy security policy and The Russian Federation

Energy is one of the most strategic resources on a global scale in terms of its effects on macroeconomic balances and decision making processes not only for companies but also for states. In this study, energy security, interdependence and renewable energy policies of the European Union and the Russian Federation especially in the first half of the twenty-first century have been discussed and in the medium to long term and an overview of possible outcomes have been presented. The common energy policy phenomenon in Europe can be traced back to the treaties in 1951 and 1957 establishing the European Coal and Steel Community, and the European Atomic Energy Community, which may be qualified as the beginning of the formation of the EU. Although it has been on the agenda for so long, we still cannot argue that an effective energy union exists. Three main pillars of energy security are security of energy supply, ensuring competitive market conditions and sustainability. As the EU is an externally dependent community with respect to energy sources, the security of energy supply is directly linked to relations with raw material supplyingr countries, in this case the Russian Federation which is the number one energy supplier for EU. Because of this importance, the EU's energy policy and the aspects of security will be examined, taking the RF into consideration, which is the most important actor outside the European Union affecting its energy policies.