As the global economic landscape undergoes significant transformation, Russia must reform its domestic and foreign policies to meet new challenges

Russia’s vast energy resources have long given the country substantial influence in the international arena. As Hayk Hovhannisyan notes, however, a number of current developments present a threat to Russia’s economic and global position. New energy supply routes and the shale gas extraction ‘boom’ may reduce demand for Russian energy resources; while a slowdown in the BRIC economies, allied with negotiations over the Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP), could have profound implications for the country’s economy.