In the first installment in a new EIRP working paper series on Russian Energy, Alexandra Prokopenko, a Visiting Fellow at the German Council on Foreign Relations and Non-Resident Scholar at the Carnegie Endowment for International Peace, assesses Russian nuclear energy monopoly Rosatom’s international activity in the wake of Russia’s war in Ukraine and U.S. and allied efforts to apply economic pressure through sanctions.
On April 28, the Russian newspaper Kommersant Daily reported that Ukraine intends to raise transit fees on Russian oil entering its territory via the Druzhba Pipeline.
On Monday, April 24, Center for Energy Governance and Security at Hanyang University Director Younkyoo Kim said that recent Internal Revenue Service guidelines for implementing the Inflation Reduction Act’s electric vehicle tax credit were a ‘win-win’ outcome for the United States and South Korea that has reassured Korean manufacturers and the Korean public, at least in the near term.
The UN’s International Seabed Authority (ISA) said it will receive deep-sea mining applications for project outside member countries’ Economic Exclusion Zones beginning on July 9.
On March 21, during Chinese President Xi Jinping’s visit to Russia, Russian Prime Minister Mikhail Mishustin and Jinping agreed to $165 billion in investment across 79 projects through an intergovernmental commission.
The International Energy Agency reported a 40% year-on-year decrease in Russian oil and gas export revenue in January, with a $11.5 billion decline from January 2022.
On March 7, the Japanese government’s Green Innovation Fund awarded $1.62 billion to a Japanese-Australian business venture to create Japan’s first hydrogen supply chain between Victoria State in Australia and Kawasaki, Japan.
President Joe Biden’s January 13 meeting with Japanese Prime Minister Fumio Kishida in Washington yielded new reaffirmations of the U.S.-Japan alliance and Washington’s commitment to defend its ally as well as a strong American endorsement of Japan’s plans to boost its defense spending.
On January 19, energy analytics firm Vortexa reported that Russia eclipsed Iraq as India’s largest source of crude oil starting in October 2022.
On February 15th, South Korean and Mongolian Industry Ministers signed a memorandum of understanding to encourage cooperation on rare earth supply chains.
