How to Rebalance the EU-Russia Relationship: Potential and Limits

The energy crisis involving Russia and Ukraine has revealed the fragility of the European Union (EU) in terms of energy dependence and underlined the notion that it needs to guarantee its energy security. Russia, currently the EU’s main supplier of fossil fuels, will remain an important supplier for years to come since it has the potential to supply significant quantities of the additional energy that the EU may need to import in the medium term. A stable relationship between the two partners is thus essential for EU energy security. However, the state of the relationship between Russia and the West is currently at one of its worst lows since the end of the Cold War. This article profiles the options open to the EU and the limitations on possible action with a view to establishing a new bilateral agreement with Russia based on an interdependent relationship that ensures EU energy security. Our analysis thus provides a tool for formulating a consistent European policy for a future relationship with Russia, which guarantees EU energy security.