Business | Schumpeter

Watch Russia’s Rosneft to see the new direction of global petropolitics

Oil’s new eastern bloc

Igor sechin is easy to caricature. The boss of Rosneft, Russia’s state-owned oil giant, is a burly man with close-cropped hair whose pastime is making sausages, reputedly out of deer he himself has killed. He is one of President Vladimir Putin’s most trusted henchmen. Since 2014, when Russia annexed Crimea, he has been blacklisted by America and this year, after Russia’s invasion of Ukraine, the European Union put him on its sanctions list, too.

This article appeared in the Business section of the print edition under the headline “Oil’s new eastern bloc”

Europe’s coming winter peril

From the July 16th 2022 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Business

Illustration of two wolf cubs sitting on the head of the wall street bull

Meet the ambitious wolf cubs of Wall Street

A duo of whippersnappers is taking on Goldman Sachs 

What next for US Steel?

The faded industrial icon has few good options without a Nippon deal


Foxconn's Model D electric vehicle .

Foxconn and other gadget-makers are expanding their empires

The world’s contract manufacturers are moving into new products and places


The signals of workplace submissiveness

Deference is all around you, unfortunately

America’s internet giants are being outplayed in the global south

From e-commerce to online banking, regional competitors are innovating rapidly

Will Mark Zuckerberg’s Trump gamble pay off?

He risks making enemies elsewhere