Analysis of the activities of European transnational corporations in Central Asia: problems and prospects

Abstract

The article discusses aspects of cooperation in the oil sector of multinational companies representing
the interests of European Union countries. In the context of the economic crisis, the impossibility of OPEC +
to regulate oil prices, and the volume of its production, it is difficult to make forecasts of further economic
cooperation. The coronavirus pandemic has shown that, contrary to the interests of globalization, national
economies must remain self-sufficient. In our opinion, in the future, there will be revised legal regime for the
presence of multinational companies in the interests of national economies.
The Energy Charter of 1991, depriving the Central Asian countries of the right to judicial protection, the oil
economic crisis will lead to a severe crisis in the oil sector. The geopolitical confrontation between Russia and the
United Arab Emirates against the United States creates a new balance of forces that will affect the development
of the Central Asian direction of the European Union’s foreign policy as the basis for energy security.