International economic relations and energy security in the European Union: a systematic literature review

Abstract

Energy security has become a pressing issue in the European Union (EU), particularly due to geopolitical turbulence and supply chain disruptions. The continuous crises and the recent Russian invasion of Ukraine have highlighted the vulnerabilities of EU nations that rely on external energy sources, exposing them to potential price fluctuations and supply constraints. The aim of this study is to systematically review the EU’s international economic relations through the prism of energy security. The review presents two topics of discussion that have been prevalent in the last decade: (i) the EU’s economic and energy relations with other countries and (ii) the types of energy that are being traded. The review reaches the conclusion that the EU must reduce its reliance on Russian fossil fuels by developing new alliances and focusing on renewable energy sources.