Development of the Russian oil and gas sector under the conditions of sanctions

the article presents the results of a study of the impact of economic sanctions imposed annually and multiplied in 2022-2024 on the development of the Russian oil and gas sector; provides information on changes in monetary terms in the turnover of the industry and its adaptation measures in response to external challenges. Statistical data on the volume of oil production, its exports, revenues of the oil and gas sector, its role in the federal budget as a whole are presented. The mechanisms of import substitution and technological development, which allowed maintaining the stability of the industry at the same pre-sanctions level, are considered and analyzed. Comparative data are presented in relation to the main competitors – Saudi Arabia and the United States. The directions of further sustainable development of the industry have been determined. Results: the analysis of the impact of economic sanctions on the Russian oil and gas industry is carried out. Conclusion: based on the results of the study, possible ways of development in the context of sanctions are proposed.

economic sanctions, oil and gas sector, oil production volume, federal budget revenues, import substitution, modernization of production, technological potential