Russia’s global power has rested in large part on its oil and gas reserves. Will Vladimir Putin’s decision to invade Ukraine and Europe’s decision to seek alternative supplies shrink this power irreparably? Gideon talks to the American expert Dan Yergin about the role played by energy in the Ukraine conflict and its implications for the rest of the world.

Clips: BBC, ABC, Sky News

More on this topic:  

Europe at risk of winter energy rationing, energy watchdog warns

LNG revolution: Germany’s plan to wean itself off Russian gas takes shape

Saudi Arabia is increasing supply — so why is the oil price holding firm?

Trafigura warns oil prices could reach ‘parabolic state’ in threat to economy

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

Read a transcript of this episode on FT.com

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