Assessment and Evaluation of Energy Security in Russia based on Factor Analysis Model*

One of the most important issues in the world economy is the concept of energy security and the study of its various dimensions in different countries. Energy security is of great importance for Russia as one of the largest oil and gas producing countries in Northern Asia and the world. This study seeks to measure various aspects of energy security in Russia using Factor Analysis Model. Results indicate a high degree of interdependence between the two variables of economic growth and energy intensity in Russia. The results of the EFA also show that the two factors, including the general factor and the investment science factor, can explain about 85% of the variance of the observed variables. Moreover, the results of the Russian invasion of Ukraine and its impact on energy security demonstrate the need to separate the short-term effects of the conflict on energy security from the long-term effects. Russia suffers from energy stickiness due to its economic and political structure and will lag behind the West in the medium- and long-term renewable energy replacement program.