Russia’s energy sector and the western sanctions

28  February 2017    5:00 pm CET

Andrei V. Belyi, University of Eastern Finland


wiiw, Rahlgasse 3, 1060 Vienna, lecture hall (entrance from the ground floor)


Last year was marked by a surprising privatisation deal in Russia’s oil and gas industry, between Rosneft and a Glencore-Qatar consortium. It demonstrated the ability of sanctioned companies to bypass the most harmful effects from restrictions on financial flows. The strategy of the buyers, in particular Glencore, whose past has been characterised by business in sanctioned states, remains unclear. As for the Russian hydrocarbon industry, can short-term financial solutions provide a way out of the sanctions predicament? In answering this question, important medium- and long-term problems need to be outlined, such as a deteriorating image abroad and weakening access to more innovative technologies.

Andrei V. Belyi (Andrey Belyy) is an Associate Professor at the University of Eastern Finland and a project researcher at its Centre for Climate Change, Energy and Environmental Law. Prior to 2015, he co-directed two Jean Monnet modules on energy and environment at the University of Tartu, Estonia. He also worked at the Higher School of Economics in Moscow (Russia), where he co-directed Energy Policy Master Programmes from 2007 to 2012. In addition, he has been an Honorary Lecturer at the Centre for Energy, Petroleum, Mineral Law and Policy (Dundee, UK), provided short-term lectures and workshops at the Global Energy Programme of the Warwick Business School (UK), at the Centre for Energy and Resources at the University College London in Adelaide, Australia, as well as at the University of Aberdeen. In addition, Andrei V. Belyi is a Member of the Brussels Energy Club and is on the Editorial Board of the Journal for World Energy Law and Business (Oxford University Press). Based on the experience of 16 years in consultancy services, he provides advice to EU institutions, Russian governmental agencies, companies and private firms. Andrei V. Belyi has participated in various research projects related to hydrocarbon markets and policies including the EU-funded Framework Programme 7 (Policies in Natural Resources, Polinares, and a study for the Academy of Finland on behalf of the University of Eastern Finland.