ABSTRACT
Changes in the global energy balance can potentially lead to changes in the strategies of global energy market players and undermine the external source of financing for the Russian economy. Despite the chronic problems, competitive advantages of Russia's energy sector and energy system include rich natural resources, low production costs, proximity to the main sales markets (China and EU), a broader transport network and export routes, and qualified human resources. The challenges related to the expansion of the resource base and actual oil-gas production are a fundamental constraint on Russia's foreign energy policy that aims to obtain geopolitical advantages and fiscal revenues through the export of fossil fuels. Russia has varying resources and capacities in renewable energy and metal bases that support alternative energy production. The major responsible company for REM production is the state-owned nuclear energy company Rosatom, which was involved in producing REM, lithium, and cobalt in Russia, Argentine, Chile, and Congo.
