In the wake of Putin’s May 7 inauguration, the corridors of power in Moscow have been replete with speculation regarding the composition of the next government. Alexander Novak, the Energy Minister, is one of the lucky few whose performance President Putin was genuinely satisfied with, hence the lack of rumors about his potential supersession (the only noteworthy one stipulated that he might replace Foreign Minister Lavrov if he were to abnegate his powers). However, the new setup, with the inclusion of officials who are new to the energy sector, will bring some changes to Russia’s oil policy, with both internal and external consequences. Minister Novak is widely credited for playing a positive role in establishing a constructive relationship with Saudi Arabia, a country that had been a source of major political concern given its long-standing support to Chechen insurgents. It is this success that has led analysts to believe […]