The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 2/2026. World Economy and international economic relations. 

JATS XML

Viktor P. Klavdienko

Dr. Sci. (Econ.), Associate Professor, Leading Researcher, Faculty of Economics, Lomonosov Moscow State University, Moscow, Russia

ORCID: 000-0001-5929-2755

Marina L. Luchko

Dr. Sci. (Econ.), Professor, Professor of the Faculty of Economics, Lomonosov Moscow State University, Moscow, Russia

ORCID: 0000-0001-5895-1712

THE EU’S SINGLE ENERGY MARKET: CONVERGENCE OR STATUS QUO…

124-143

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The article identifies the stages of creating a single energy market for the countries of the European Union (EU). It examines the strategy for creating an energy union of the EU countries, which defines five key areas for the development of the EU energy sector during the transition to a carbon-neutral economy (up to 2050). Differences in government support for «green» business in different EU countries have been identified. It is concluded that the state is increasingly intervening in the energy sector, using a wide range of direct and indirect instruments of influence.

Additionally, the evolution of the consumption patterns of primary fuel and energy resources (FER) in 27 current EU member states was studied for their differences (or similarities). Centrifugal trends in price variations for energy resources in different EU countries were identified. It was emphasized that a characteristic feature of energy supply in EU countries is the high share of energy imports, which, in the process of forming a single EU energy market, has not decreased, but is steadily increasing. As a result, it is concluded that energy based on renewable energy sources (RES) has its competitive advantages, but there are also certain risks associated with increasing the share of RES in the overall energy balance.

Keywords: European Union, single energy market, energy transition, sustainable development, world economy.

JEL: F18, H23, O52, Р28, Q43

EDN: PDMDWD

DOI: https://doi.org/10.52180/2073-6487_2026_2_124_143

References

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Manuscript submission date: 03.12.2025

Manuscript acceptance date: 02.04.2026

For citation:

Klavdienko V.P., Luchko M.L. The EU’s single energy market: convergence or status quo… // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2026. № 2. Pp. 124-143. (In Russ.). https://doi.org/10.52180/2073-6487_2026_2_124_143 EDN: PDMDWD

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The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 1/2026. World Economy and international economic relations. 

JATS XML

Anna S. Chetverikova

Cand. Sci. (Econ.), Head of the Center for European Studies, Primakov National Research Institute of World Economy and International Relations of the RАS (IMEMO), Moscow, Russia

ORCID: 0000-0003-4793-4145

THE EU FOREIGN TRADE: TRANSFORMATION OF EXPORT FLOWS

156-172

398.06  K

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The article presents an analysis of foreign trade’s development of the EU for the last decades. The main tendencies including the weakening of the EU positions in world trade are shown. Using the Revealed Comparative Advantage Index (RCA), trends in export competitiveness of the EU member states have been assessed. The key differences between groups of countries including the emergence of new leaders and relatively stable positions of large economies are identified. Based on RCA’s dynamics the conclusion is made that the EU integration of the Visegrad countries hasn’t had a clear positive effect on its export opportunities in terms of competitiveness. It is demonstrated that the most competitive export goods of the EU member states are not always goods of their main traditional global sector specialization. Taking into account three indicators (Herfindahl-Hirschman Index, share of key goods in total export, quantity of export goods) groups of countries with different tendencies in its export diversification are identified.

Keywords: European Union, EU member states, foreign trade, export dynamics, competitiveness, export flow specialization, export flow diversification.

JEL: F10

EDN: QECCSC

DOI: https://doi.org/10.52180/2073-6487_2026_1_156_172

References

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Manuscript submission date: 10.11.2025

Manuscript acceptance date: 24.02.2026

For citation:

Chetverikova A.S. The EU foreign trade: transformation of export flows // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2026. № 1 Pp. 156-172. (In Russ.). https://doi.org/10.52180/2073-6487_2026_1_156_172 EDN: QECCSC

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The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 1/2026. World Economy and international economic relations. 

JATS XML

Denis S. Lesnoy

Postgraduate Student at the Institute of Europe of the RAS, Moscow, Russia

ORCID: 0009-0002-4589-598X

STRUCTURAL DIVERGENCE AND SECTORAL SPECIALIZATION OF EU ARCTIC

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The article analyses the evolution of economic structures in the Arctic regions of the European Union – Northern and Eastern Finland, Central Norrland and Upper Norrland (Sweden) – in comparison with national economies in 2000–2023. The essential features of the EU’s northern periphery are established, manifested in low population density, resource dependence, and limited sectoral diversification. Indicators of overall structural divergence and localization coefficients of regional economies are calculated. The results show that all three regions maintain differentiated economic sector profiles compared to the national economies. A conclusion is made about the reasons for the structural divergence due to deep specialization in agriculture, forestry, fisheries and extractive industries. The economies of Northern and Eastern Finland show moderate convergence with the national economy as a whole, as well as gradual diversification, while Central Norrland exhibits stable but moderate divergence. Against this backdrop, the sectoral structure of Upper Norrland is the most structurally unstable, reflecting its deep dependence on extractive industry and sensitivity to global resource market cycles. Based on these results, the author concludes that there is inertia in the development paths of the EU’s Arctic regions, with economies remaining resource-dependent and a ‘treadmill effect’ complicating the implementation of structural policies to diversify peripheral, sparsely populated territories. The results of the study also provide insight into the continuing regional comparative advantages and resource dependence, which are key topics in the field of regional economic development and Arctic policy research.

Keywords: Arctic regions of the European Union, structural divergence, sectoral specialization, resource dependence, peripheral regions.

JEL: R11, R12, F00

EDN: CIWKRO

DOI: https://doi.org/10.52180/2073-6487_2026_1_173_190

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Manuscript submission date: 10.11.2025

Manuscript acceptance date: 24.02.2026

For citation:

Lesnoy D.S. Structural divergence and sectoral specialization of EU Arctic // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2026. № 1. Pp. 173-190. (In Russ.). https://doi.org/10.52180/2073-6487_2026_1_173_190 EDN: CIWKRO

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The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 1/2026. World Economy and international economic relations. 

JATS XML

Igor I. Sechin

Cand. Sci. (Econ.), Chief Executive Officer, Rosneft Oil Company, Moscow, Russia

ORCID: 0009-0006-0204-5888

THE GLOBAL OIL MARKET AND RUSSIA’S ENERGY STRATEGY UNDER SANCTIONS

133-155

360.15  K

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The West’s desire to maintain global economic dominance and curb the growth of developing countries has made the global energy market, and the oil market in particular, an arena of geopolitical confrontation. The study found that, under sanctions pressure, a key element of Russia’s energy strategy was the reorientation of oil exports to fast-growing Asian markets, which helped offset the loss of European customers. Despite the introduction of price caps and logistics restrictions, export volumes remained stable thanks to existing and established infrastructure, as well as long-term contracts with partners. A combination of market diversification, a flexible tax policy, and strengthened partnerships with countries considered undesirable by the West ensured Russia’s resilience under sanctions. At the same time, it is important to recognize that pressure on Russia, as well as the risks of further fragmentation of global energy markets, are increasing. In this regard, there is a rising need to take measures to minimize these risks, including the development of alternative financial mechanisms that reduce dependence on the dollar system.

Keywords: global energy, oil, sanctions, cooperation, strategy, Russia, China, India, Europe, USA.

JEL: F01

EDN: DJHUXN

DOI: https://doi.org/10.52180/2073-6487_2026_1_133_155

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Manuscript submission date: 20.11.2025

Manuscript acceptance date: 24.02.2026

For citation:

Sechin I.I. The global oil market and Russia’s energy strategy under sanctions // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2026. № 1. Pp. 133-155. (In Russ.). https://doi.org/10.52180/2073-6487_2026_1_133_155 EDN: DJHUXN

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