Serbia's President B.Tadic (R) talks with Russia's Prime Minister V.Putin about details of planning South Stream gas pipeline in Belgrade, Serbia, March 23, 2011

Abstract: This work evaluates the long-term effects of Putin’s energy policy on the development of the Russian energy sector from the perspective of Critical Security Studies. One of the concerns related to recent developments of the Russian energy sector is the increasing level of governmental control over energy production and the limitations imposed on both domestic private producers and foreign investors. This policy has resulted in a lack of investment in the development of new oil and gas fields and in the upgrading of infrastructure. To avoid further decline in natural gas production and the deterioration of natural gas transportation networks, Russia needs to encourage foreign investors. However, while many foreign companies want to invest in the Russian energy sector, they often feel insecure due to the current legislation.

Keywords: Russian energy policy, Foreign Direct Investment, securitisation, Critical Security Studies