Scholars from FIR successfully completed another TAČR research project

Research Report: Falling oil prices: Research into the impact on producer countries in the EU’s neighborhood

The research report analyses the possible effects of a sharp decline in oil prices in spring 2020 in oil-producing countries in the Czech Republic’s geographical proximity. It focuses mainly on the domestic political situation, foreign policy orientation and relations with the EU. In the context of other current trends, especially the COVID-19 pandemic and decarbonisation; it subsequently identifies possible consequences for implementing the Czech Republic’s foreign policy. The research covers the Middle East and North Africa (MENA), the Russian Federation and Central Asia emphasising the oil-producing countries’ situation. After the general regional analysis, case studies of two countries, the Russian Federation and Azerbaijan follow. The resulting recommendations serve as a basis for state administration decisions in foreign policy and international relations areas. They specifically focus on the economy and energy security and prevention and solution of the consequences of the drop in oil prices for the Czech foreign policy concerning individual regions and states, respectively.

Managerial Summary

The research report is supplemented by an executive summary, which contains recommendations for Czech foreign policy in response to the fall in oil prices in 2020 and its immediate, medium and long-term consequences.