Energy Transition 4.0: Impact on Russia–EU Economic Relations

Abstract

Energy transition is one of the key trends in the modern world processes driven by the development of technologies and the climate policy of international organizations, countries, and businesses. The EU is the world leader in the implementation of policies to reduce the greenhouse gas emissions and Russia’s leading economic partner. The new Green Deal of the EU aims to achieve carbon neutrality by 2050, which provides for a gradual reduction in the main items of Russian exports to the EU - fossil fuels - and poses a serious challenge to Russia’s growth.
In this regard, cooperation between Russia and the EU in the field of energy should be considered as an opportunity to gain new competitive positions in the world. Development and commercialization of new technologies and foreign direct investment seem to be the key areas for Russia–EU cooperation.