Valdai Club

The energy transition is likely to have significant geopolitical consequences. It will cause a shift of power away from fossil fuel producers. Moreover, the new geopolitics of energy will be increasingly determined by issues such as access to green technologies, rare earth materials, power lines and storage capacity. International cooperation, including between the EU and Russia, can lead to mutually advantageous outcomes and help tackle the climate crisis, writes Marco Siddi, Montalcini Assistant Professor, University of Cagliari and Associate Senior Research Fellow, Finnish Institute of International Affairs, and participant at the 18th Annual meeting of the Valdai Discussion Club.

The European Union has launched a Green Deal to promote the energy transition and a climate-friendly economic recovery after the Covid-19 pandemic. The Green Deal poses a challenge to Russia, which is a key exporter of fossil fuels and energy intensive products to the EU. On the other hand, Russia has enormous potential in areas such as renewable energy and hydrogen production.