War, sanctions and climate: The forces redefining Russian energy

Russia's energy sector has transformed since the country began its invasion of Ukraine. The conflict has derailed Russia’s decarbonization efforts and reduced clean energy investment. Amid increased military expenditure, Russia has redirected oil and gas exports from Europe to Asia. With the effects of climate change becoming more apparent across Russia, questions are emerging about how Moscow will adapt its energy infrastructure.

In this episode of the “Energy Evolution” podcast, Rosemary Griffin, managing director at Platts, part of S&P Global Energy, joined host Eklavya Gupte to discuss how geopolitics is creating a turning point in Russia’s energy future. Tatiana Mitrova, fellow at Columbia University's Center on Global Energy Policy, explained how the war has affected Russia’s energy strategy, and Eoin Quill, researcher at Climate Analytics, examined how the warming Arctic could alter Russia’s energy infrastructure and export capabilities.

Investment perspectives: Insights from Riyadh

The investment landscape has transformed dramatically over the past decade, demanding more flexible asset allocation frameworks with dynamic adjustments and strategic buffers. Still, geographic diversification remains crucial. In the Middle East, private credit is gaining traction as the asset class offers diversification and income generation. However, sharia compliance is a key consideration, requiring an additional layer of operational diligence that is often addressed by special purpose vehicles or by reframing private credit as private income. Meanwhile, the country’s private equity industry is still developing, but it is already playing a vital role in the growth of small and medium-sized enterprises.