Russian Energy and the Economy - Time to Move on?
Is now the time that Russia needs to diversify its economy? Should Russia start to diversify its economy beyond natural resources? Currently, while the increased energy funds continue to fuel their adventurism for the time being, what happens when the dust settles? European nations are shifting towards no longer being reliant on Russian supplies and are diversifying their own energy needs, which includes importing from other resource rich nations as well as green energy supplication. The longer the war continues, Europe's resolve to move beyond Russian supplies will harden and endure. As European nations maneuver to wean their energy supply off of Russia, this transition could still be years in the making. Recent legislation will limit any maritime importing of Russian energy; landlocked nations, such as Hungary, will still be allowed to import supplies through pipelines. However, the reliance and assumed energy exportation to the West can no longer be a given; they will eit...