‘We started to plummet’

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-09-13T04:25:16.032Z • Permanent link

Russian President Vladimir Putin's statement on Monday sent shockwaves throughout the global economy, as he announced the country's withdrawal from the International Energy Agency's (IEA) governing council. This move is widely seen as a direct response to the agency's criticism of Russia's energy policies, particularly its support for the Nord Stream 2 pipeline project. The IEA had been vocal in its opposition to the project, citing concerns over its potential to increase Russia's energy influence in Europe.

The decision to withdraw from the IEA's governing council is seen as a significant escalation of tensions between Russia and the West. The IEA has been a key player in shaping global energy policy, and Russia's departure will likely have significant implications for the organization's ability to address emerging energy challenges. The move is also likely to be closely watched by energy markets, where prices have already begun to fluctuate in response to the announcement.

Russia's withdrawal from the IEA's governing council is also seen as a significant blow to the organization's credibility and influence. The IEA has long been seen as a trusted and impartial voice on energy issues, and Russia's departure will likely undermine its ability to build consensus on key energy policy issues. The move is likely to be closely followed by energy markets, where prices are already beginning to respond to the announcement.

The implications of Russia's withdrawal from the IEA's governing council are far-reaching and significant. For energy companies, the move will likely lead to increased uncertainty and volatility in the global energy market. Companies such as Royal Dutch Shell and BP have already begun to adjust their strategies in response to the announcement, with Shell announcing plans to increase its production in the North Sea in an effort to mitigate the impact of the move.

The move is also likely to have significant implications for energy research communities, who will be forced to re-evaluate their assumptions about the role of the IEA in shaping global energy policy. The IEA has been a key player in supporting research into emerging energy technologies, and Russia's departure will likely lead to a significant reduction in funding and support for research into these areas.

The impact of Russia's withdrawal from the IEA's governing council will also be felt in energy markets, where prices are already beginning to respond to the announcement. Energy prices have been volatile in recent months, and the move is likely to exacerbate these trends. Energy companies such as Enel and Engie will be closely watching the situation, as they seek to protect their interests and mitigate the impact of the move.