The Course of South Stream

Vladimir Putin’s unexpected U-turn on the construction of the South Stream pipeline is without a doubt a major game changer. T... ... the confrontation with the West over the crisis in Ukraine. The European Union stands to lose the most from the move. By itself, however, redirecting the pipeline through Turkey rather than Bulgaria does not strengthen Russia’s position on the European gas market from a strategic ... ... with certain restrictions imposed by the European Commission. Gazprom had envisioned the Nord and South streams as becoming a ...