Part 1/8:
The Energy Paradox: Russia's Relationship with Oil and Its Economy
In a surprising twist of narratives, the European Union once exported energy to Russia prior to the 1990s, a stark contrast to the modern-day context where Russia is known as an energy powerhouse. The Russian economy remains heavily dependent on its oil and gas industry, which constitutes over 60% of its exports. Despite this wealth of natural resources, Russia's economic growth has been disappointing, leaving many citizens still living under conditions reminiscent of the Soviet era.