Russia’s gamble over Crimea could deliver major energy rewards and influence

Crimea has one of Europe’s largest photovoltaic parks (photo: dpa)
Crimea has one of Europe’s largest photovoltaic parks (photo: dpa)

Russia’s move on Crimea comes at a huge loss of revenue for its energy giant Gazprom. But Russia’s strategy extends its geopolitical influence and reaps offshore oil and gas potential while disrupting Ukraine’s own energy policy of self-sufficiency.

<i>Russian President Vladimir Putin’s annexation strategy in Crimea has been driven by Russia’s energy foreign policy strategy and its aim to undermine Ukraine’s energy and gas diversification strategy. This has been overlooked by both Europe and the United States. Russia’s action has deprived Ukraine of the chance to develop vast offshore oil and gas resources off the Crimean coast. It also undermines Ukraine’s strategy for energy i...

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