An evaluation of the energy policy of the Russian Federation in terms of the international political economy: The Putin era

The issue of energy is an important factor in shaping the political course of any state. The impact of energy on the environment is an energy problem that includes serious issues such as pricing, search for new deposits, the spread of alternative energy sources, and the legal framework of international energy relations. In the 20th century, energy policy has become one of the most important factors in the foreign and domestic policies of states. This trend continues today because the state and development of national and world economies depend on energy sources. When we look at the underground resources of Russia, it is seen that it constitutes approximately 40% of the world gas reserves, 16% of the oil reserves and approximately 24% of the estimated coal reserves. The world oil market is deeply integrated and Russia takes an active role in all kinds of relations and activities, since almost half of the oil produced in Russia is exported abroad. There are various opinions regarding the stage of natural gas as a global market. However, not all researchers share the view that this global market has already been created. As a matter of fact, the world coal market was formed much earlier than other world energy markets. Consequently, in order to analyze both internal and external energy policy of Russia, we need to consider the efficiency of using the energy resources produced in particular. It is clearly seen that the increase not only reduces unit costs for energy production, but also increases export resources. Therefore, in this thesis, the subject of energy is analyzed within the boundaries of the international political economy and especially the Putin period is discussed.