Fragmentation of Global Energy Markets Alters Trade Dynamics
Global energy markets are experiencing a significant shift from a single, integrated system to a fragmented structure influenced by geopolitics and sanctions. This transformation is particularly evident in Eurasia, where countries are adapting to new trade dynamics. Russia, at the center of this change, has redirected its energy exports towards Asia, especially China and India, often at discounted prices. This shift has been facilitated by evolving logistics, insurance, and financing structures that operate outside traditional Western frameworks. The fragmentation is characterized by regional pricing divergences, bilateral trade relationships, and infrastructure dependencies, which are reshaping how energy supply is valued and distributed. 
