"The Implications of the Russian-Ukrainian War on Energy Security: A Comparative Study (2022–2024)"
DOI:
https://doi.org/10.31272/ipj.i65.535Keywords:
Power of Siberia 2, Energy Security, Implications of the Russian-Ukrainian War, China, European UnionAbstract
This study addresses the implications of the Russian-Ukrainian War on energy security, focusing on three major powers: Russia, China, and the European Union. Since the outbreak of the war in February 2022, the international system has witnessed fundamental shifts in energy dynamics, as the crisis marked a turning point in reshaping global supply policies.
For Russia, Western sanctions led to a reduction in its role as a primary energy supplier to Europe, negatively impacting its commercial revenues and geopolitical standing. This forced it to redirect its exports toward Asian markets despite the higher cost. China, on the other hand, benefited from the crisis by securing Russian supplies at preferential prices and concluding long-term strategic agreements, such as the 'Power of Siberia 2' project. However, it simultaneously faced challenges related to price volatility and concerns about over-reliance on Russia.
Conversely, the crisis posed the greatest threat to European energy security. The continent historically relied on Russian gas, and with the suspension of supply lines, prices rose unprecedentedly, exacerbating inflation and recession rates. This prompted the European Union to launch the RePowerEU plan, aiming to diversify its sources and transition toward renewable energy.
The study demonstrates that the Russian-Ukrainian War's effects were not limited to the economy but also redrew maps of influence in the energy sector, compelling major powers to reconsider their future strategies, reflecting profound shifts in the balance of power within the international system.
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