FUEL AND ENERGY COMPLEX OF RUSSIA UNDER SANCTIONS

Abstract

The purpose of this article is to study the impact of sanctions on the oil and gas industry of the Russian Federation and possible mechanisms for solving problems that arose as a result of sanctions pressure. Methods of comparative analysis, methods of comparing and summarizing information, as well as interpretation of the results of the work were used in the work. It is noted that the sanctions imposed in 2022 seriously affected the Fuel and Energy complex of the Russian Federation, which required the adoption of a number of measures to normalize the functioning of the complex and set a number of tasks on which the choice of the path of further development of the country's oil and gas industry depends. The main problems for the oil and gas industry of the Russian Federation are: the need to find new markets, indirect sanctions, which in the long-term lead to a slowdown in the growth of the Russian economy, which depends on energy exports, technological dependence on Western countries, and restrictions on the participation of foreign companies in the Russian sector of the economy. There are several options for the development of the fuel and energy complex that could help stabilize the situation: the transfer of the main volume of exports to the countries of the east, an increase in the use of energy resources in the domestic market, the expansion of its own base of enterprises for the production of fuels and lubricants, the construction of additional reservoirs for the storage of petroleum products, an expanded policy of using artificial reduction of oil production rates. Thus, the period 2023-2024 is crucial for the development of the fuel and energy complex of the Russian Federation.