Legal Analysis Of Russia-EU Oil Cooperation

Energy is a key industry for many countries in the economic, so cial and political terms. In this regard, the energy complex is under the special supervision of the state and is quite tightly regulated, regardless of ownership of companies in the energy profile. The state of the energy complex depends on the level of national security in general and its economic component. It defines the special attention of state bodies to the issues of ensuring energy stability. The globalization of energy and strengthening energy interdependence of individual countries confirm the th esis about the impossibility of ensuring national energy security without addressing the challenges of international energy security at the regional and global levels. The energy world is experiencing the impact of two processes. On the one hand, growing competition in world energy markets between the major participants. On the other hand, significantly intensify interstate cooperation and regulation in the global energy sector that promotes the development of centers of global and regional energy policy.Russia supports deepening international energy cooperation, for the development of new international legal instruments for its regulation. But here, the Russian Federation encounters many challenges – internal and external. Internal problems associated with deficiencies of the Russian legislation. Energy law Russia needs to modernize. Russia has to prove its dedication to attracting foreign investment by provide of constant and safe legal and normative frameworks. Russia also has to reorganise its oil transportation segment to introduce competition and facilitate the entry of foreign developers.Europe is the traditional and largest market for Russian energy. The key factor of economic interaction between Russian Federation and EU is their energy dialogue. The development of Russian-EU relationships in the energy sphere is restricted by many political, economic and legal issues. A conflict of interest in a pair of EU-Russia lies in the fact that Europe is the largest energy consumer, and Russia is the largest supplier of energy- gas, oil and petroleum products. The problem of providing energy to Europe are becoming more acute. Thus, the cooperation of Russia and EU in the energy sphere is more necessary. The interaction of the parties in recent years is not only energy exports but also in the form of an exchange of assets, investment capital and investment, participation in production, transport and distribution and value each other’s projects. Among the risks to bilateral energy relationships- strengthening of the competitive struggle for the oil supply.The main issues of Russian-EU economic interaction are the conditions of the Energy Charter Treaty and the ECT Transit Protocol. Russia signed the Treaty but not ratified, because it believes some paragraphs of the Charter to be discriminatory. Working conditions in the EU energy market without taking into account the interests of Russia impeded the development of the energy dialogue EU-Russia. Russian Federation needs the adoption of significant political, economic, legal and institutional actions in the new situation to ensure Russian energy security, and development of reciprocally advantageous partnership with EU states in the energy sphere.This research analyze the Russian legal base in the field of energy cooperation and, in particular, cooperation in the oil sector; special attention is paid to the analysis of international documents regulating international energy cooperation such as the Energy Charter Treaty, also considered exist issues and the p rospects of Russian foreign energy cooperation and proposed possible solutions for these problems.