
// Pathways to Peace and Security. 2024. No 2 (67) . P. 175-193
Abstract. The outbreak of the Russia–Ukraine conflict has reshaped the global energy landscape, extending the relevance of hydrocarbons for the global economy while highlighting the importance of renewables for national energy security. The article examines challenges and opportunities for cooperation between Russia and the Gulf Cooperation Council (GCC) countries amidst the accelerating Fourth Energy Transition. The ongoing global shift towards renewable energy presents significant risks for hydrocarbon-dependent economies, including declining oil demand, intensified competition in Asia, and market volatility. While GCC countries leverage the current high oil prices to advance their economic diversification agendas, the long-term acceleration of the energy transition, particularly in Asia and Europe, requires further adaptation. Russia’s active participation in OPEC+ and its willingness to coordinate production cuts emphasize the strategic nature of this partnership, ensuring the alignment of interests in mitigating the impact of global economic shifts. It is concluded that the synergy between Russia and GCC countries, grounded in shared vulnerabilities and strategic goals, will likely play a pivotal role in navigating the uncertainties of the global energy transition, creating a foundation for enduring economic and geopolitical collaboration. The critical role of OPEC+ as a platform for collaboration between Russia and GCC states that enables them to stabilize oil prices and align strategies to maintain economic resilience is also underscored.
Keywords: energy transition, Gulf Cooperation Council (GCC), Organization of the Petroleum Exporting Countries (OPEC), Russia–Ukraine conflict
Nikolay Kozhanov is a Senior Researcher, Center for Middle East Studies, Primakov Institute of World Economy and International Relations, Russian Academy of Sciences, and a Research Associate Professor, Gulf Studies Center, Qatar University, Doha.
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