Number: RL32087
Title: Russian Oil and Gas Companies and Central and Eastern Europe
Authors: Steven Woehrel, Foreign Affairs, Defense, and Trade Division 
Abstract: In recent years, one key sector of the Russian economy, the Russian oil and gas sector, has shown signs of revival. Russian firms in this sector have sought to buy up energy companies in Central Europe, with mixed success. Some Central European and Western observers have expressed concern that such Russian investment could have a negative impact on the sovereignty of these countries, particularly given the non-transparent way in which these companies have operated and their close links with the Russian government. Some have proposed that the United States should try to limit the power of Russian oil and gas firms in Central Europe. Others downplay the danger, saying this issue should be seen in the larger and possibly more positive context of U.S.-Russian energy cooperation and of Western investment in Russias oil and gas sector.
Pages: 12
Date: Updated September 23, 2003