The Wall Street JournalThe Wall Street Journal

Russia’s energy clout is waning, weakening its global influence

By Georgi Kantchev and Joe Wallace

16 Jan 2023 · 6 min read

Editor's Note

Russia's status as an energy superpower is waning. A number of Russian miscalculation's coupled with Western sanctions have left Moscow's energy industry under threat, reports The Wall Street Journal.

Russian President Vladimir Putin‘s use of energy as a weapon of financial war is increasingly backfiring, threatening the core of Russia’s beleaguered economy and curtailing its geopolitical influence.

Western sanctions, falling prices for Russian fossil fuels and strategic miscalculations are hurting the country’s oil-and-gas industry while the war in Ukraine is poised to stretch into a second year. Ultimately, the strain will erode Moscow’s status as an energy superpower, according to analysts and former energy officials and executives.

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