One of the dominant export-oriented industries in Russia, oil is a major source of tax revenue and wealth. The privatization of these vast assets has made the industry a site not only for conflict between power holders but also a strategic target for international corporations and Western governments. In this thoughtful analysis, a group of international specialists explores the political and economic issues and controversies surrounding the oil industry's move to capitalism. The authors examine the spread of crime and corruption, the role of Russian and Western financial institutions, regional tensions, and the international dimension. As a paradigm for the Russian economy as a whole, the case of oil industry provides invaluable insights for understanding the political and economic problems confronting Russia today.

Russia is one of the world’s largest hydrocarbon resource holders, producers, and exporters, but it is undergoing an uncertain economic and energy transition. An economic slowdown, the dual shocks of a sharp decline in oil prices and the imposition of finance and technology-oriented sanctions, shifting markets for Russia’s exports, and internal economic and political dynamics are spurring dramatic changes in Russia’s domestic and international oil and gas strategies. These changes, while not predetermined, will impact geopolitics, energy security, oil and gas investment, and global hydrocarbon market dynamics in the near to medium term. Given the sheer size of Russia’s hydrocarbon production, the importance of oil and gas revenue to the health of Russia’s economy, and Russia’s role as an exporter and provider of hydrocarbon infrastructure, this study fills a crucial gap by analyzing the evolution of Russia’s oil and gas sector and its anticipated realignment.

This timely book explores Russia’s political development since the collapse of the USSR and how inextricably it has been bound up with economic change. Tracing the evolution of Russia’s political economy, leading scholars consider how it may continue to develop going forward. They assess the historical legacies of the Soviet period, showing how—despite policies implemented after the USSR dissolved in 1991—there are ongoing bitter battles over property and state revenues, over land, and over welfare. The book puts these domestic issues in international and comparative perspective by considering Russia’s position in the global economy and its growing role as a major energy producer. Focusing especially on the nature and future of Russian capitalism, the contributors weigh the political problems that confront Russia in its ongoing struggle to modernize and develop its economy. Contributions by: Andrew Barnes, Paul T. Christensen, Linda J. Cook, Gerald M. Easter, Neil Robinson, Richard Sakwa, and Stephen K. Wegren.

This book examines the development of the Russian economy from tsarist times to the present through the lens of the oil industry. It considers the role of the state, business-state relations, foreign participation, enterprise performance and technology. Besides providing much rich detail on the changing nature of the oil industry, the book also puts forward important conclusions, including the fact that in the late nineteenth century private enterprise rather than the state was the principal driver of economic development, and that after the collapse of the Soviet Union incumbent managers were more effective in running their companies than financier entrants, whose main concern was short-term gain.

This book addresses energy research from four distinct International Political Economy perspectives: energy security, governance, legal and developmental areas. Energy is too important to be neglected by political scientists. Yet, within the mainstream of the discipline energy research still remains a peripheral area of academic enquiry seeking to plug into the discipline’s theoretical debates. The purpose of this book is to assess how existing perspectives fit with our understanding of social science energy research by focusing on the oil and gas dimension.

A study of the actors and institutions that shaped decision-making on privatization in the Russian oil industry between 1992 and 2006. The book analyses the origins of privatization as a policy on a macro, industry-wide level, as well as presenting three in-depth case studies of privatization on a company level.

This book constitutes an up-to-date treatment of Russia’s economic development and economic policies since 2000, when Vladimir Putin became the President of Russia. After the slow decline and sudden collapse of the Soviet Union, Russia embarked upon a multi-faceted change. This included transition from central management to a market economy, from one-party rule to democracy, from multi-national empire to nation state, and from relative autarchy to opening up to the European and global communities. This book concentrates on economic change, exploring how in spite of steep production decline, widening welfare differentials and increasing social uncertainty, the 1990s also created many of the institutional and policy preconditions for a functioning market economy.

Russia's Oil Barons and Metal Magnates contains a critical analysis of the claims made against oligarchs. In doing so, it presents a detailed analysis of the place of the oligarchs in both the metals sector and in the Russian political economy.

The author of this volume provides an insider view of the story due to her involvement with the [Russian oil] industry over a long period and her access to information from key players of the industry. . . the book is a welcome addition, especially for its sound story line. Anyone interested in the transformation of the Russian oil industry will find it a valuable work. It will also inspire researchers to analyse organisational transformation of other types of industries, especially electricity and gas in many countries around the world that have undergone radical changes in the past. Subhes C. Bhattacharyya, International Journal of Energy Sector Management Sarah Dixon has produced a fascinating look at the internal workings of four major Russian oil companies during the decade following their privatisation in the mid-1990s. Dixon has utilised her in-depth knowledge of Russia and her business experience in its thriving oil industry to gain access to Russia s powerful business titans. Her insights and careful observations have resulted in a masterful analysis of organisational transformation during Russia s radical institutional upheaval. The book is a valuable contribution to resource-based theory by explaining linkages between organisational learning, dynamic capabilities, and implementation of organisational transformation. Practitioners will also benefit from the rich case studies offering insight into constraints and enablers of organisational transformation. Sheila M. Puffer, Northeastern University, Boston, US Here the example of the Russian oil industry in the context of transition from a planned to a market economy is used to develop a three-stage framework for organisational transformation. Four longitudinal case studies of Russian oil companies are drawn upon to explain the process of organisational transformation. The book highlights how and why this process differs between companies within the same industry, explores the complexity of the change process and discusses the importance of the top management team. The links between organisational learning, dynamic capabilities and the implementation of change are analysed. An interesting insight into the constraints and enablers of organisational change is also provided. The framework developed from this study can be successfully applied to other organisations wishing to bring about organisational change. Integrating several perspectives, including a resource-based view, organisational learning, dynamic capabilities and top management team theory, this book will be of great interest to scholars and researchers of business and management, international business and organisational behaviour.

The Routledge Handbook of the Political Economy of Sanctions examines the core issues and debates surrounding this controversial topic, introducing readers to essential concepts and terms. It communicates the evolving character of international sanctions from diverse perspectives, with a particular emphasis on questions of efficacy, legality, and legitimacy of sanctions, as well as the mechanisms by which they are applied. This interdisciplinary book explores the international political economy of sanctions in the constantly changing context of geopolitical rivalry. The authors investigate various theoretical and historical approaches to sanctions and apply these to specific case studies, such as the African Union, China, Cuba, India, Russia, Turkey, and the United States. The book gives a voice to sanctioned states and considers the impact of secondary sanctions. It analyses sanctions with reference to wider political debates such as national security, state sovereignty, economic warfare, and sustainability. This handbook will be of immense interest to students, researchers, and scholars in the fields of political economy, international sanctions, political science, international relations, and foreign policy. It will also be useful for all those employed by political institutions, businesses, and nongovernmental organisations when assessing current sanctions regimes.