Analysis
Economy & Tech
Saudi Arabia’s Oil Production Surge: Impacts on Russia and European Energy Security
6 December 2024
The Three Seas Initiative is in the early stages and there are more questions than answers. But if it manages to deliver even a handful of projects, it should be a considerable success.
The Three Seas Initiative has become one of the focal points of Estonia’s foreign policy within the last couple of years. Tallinn will be hosting the Fifth Summit and Third Business Forum in the coming month of October.
Additionally, Estonia has put forward 20 million euros to the Three Seas Investment Fund, following State Secretary Mike Pompeo’s announcement of a US contribution with the size of one billion dollars at the Munich Security Conference, back in February 2020.
Initially, Estonia was a reluctant member of the initiative. The idea felt lofty and the US buy-in into the project limited. An additional layer of scepticism was added by the potential consequences the format may have to EU and its unity as then the arguments were running high that the initiative is in opposition to the EU.
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