Cyber Leaders Series: How Can Ukraine Win the Cyber War? A Conversation with Dr. Greg Rattray
November 18, 2025 • 2:30 – 3:00 pm EST
Energy Codependency
Part of the Global Forecast 2015
Photo: faithie/Adobe Stock
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During Vladimir Putin’s first two terms as president of Russia from 1999 to 2008, oil prices rose from below $20 to over $140 per barrel. In many respects, this enabled the domestic and foreign policies that he pursued, including in the oil and gas industry where private ownership was restricted and the sector recentralized in the hands of the state and state companies. Today, Russia is more of a petro-state than the Soviet Union ever was, with oil and gas contributing more than a quarter of GDP, half of federal budget revenue, and twothirds of the country’s export earnings.
