But the “superpower” part of the story is now over. As of 2025, it is clear that energy is as much a vulnerability as it is an asset. Among the factors making this obvious are Ukrainian strikes against Russian infrastructure, the EU’s phaseout of Russian oil and gas purchases, and U.S. sanctions on Rosneft and Lukoil. As a result, Russia’s leverage abroad will continue to dwindle as its economic challenges at home continue to rise.

In the good old days, when Russian President Vladimir Putin was in his prime and relations with the West were in decent shape, it was common to call Russia “an energy superpower.” Through the 2000s, oil and natural gas exports boosted the country’s growth and enhanced Putin’s legitimacy. Energy added to Moscow’s geopolitical clout, too, not least in Europe. Even after the annexation of Crimea in 2014, European Union members pressed ahead with pipeline projects such as TurkStream and Nord Stream 2 .

In the good old days, when Russian President Vladimir Putin was in his prime and relations with the West were in decent shape, it was common to call Russia “an energy superpower.” Through the 2000s, oil and natural gas exports boosted the country’s growth and enhanced Putin’s legitimacy. Energy added to Moscow’s geopolitical clout, too, not least in Europe. Even after the annexation of Crimea in 2014, European Union members pressed ahead with pipeline projects such as TurkStream and Nord Stream 2.

But the “superpower” part of the story i