Russia, energy and the West

The fate of the Russian economy, the dynamics of the new Russian elite and the outcome of the country's still-uncertain post-communist transition are related in no small measure to Russia's vast oil and gas resources. Energy is a key factor in President Vladimir Putin's diplomacy - whether with Iran and Iraq, former Soviet republics or the EU. Energy is also an important s ubtext in US-Russian relations, both as a source of cooperation and, in som e respects, of tension. The West needs to recognise Russia's real strategic concerns, and to distinguish between Russia working to protect the transpo rt of a vital export commodity and Russia refusing to renounce its 'imperia l past'. The challenge to Western diplomacy is how to accommodate legitimat e Russian interests without jeopardising US and NATO interests.