The Russian fuel and energy complex, which is undoubtedly an important source of federal budget revenues, is currently subject to unprecedented sanctions pressure from Western countries. Numerous restrictions have been introduced affecting the export of Russian oil, gas, and coal, the transportation of energy resources, and access to field development technologies, among others. Russia’s largest energy-exporting companies, banks, and government agencies are also subject to sanctions. In this regard, it is important to study the set of measures taken by the authorities of the Russian Federation to minimize and overcome the consequences of these restrictions, as well as the effectiveness and sufficiency of the anti-sanctions measures. The purpose of the study is to assess the effectiveness of antisanctions measures in the energy sector through the prism of the consequences of sanctions for the Russian fuel and energy complex. According to the results of the study, it was found that the sanctions did not achieve the desired effect: a set of anti-sanctions measures, including steps to stimulate the technological development of the Russian fuel and energy complex, tax regulation measures, as well as the successful reorientation of exports to the East, mainly to China and India, made it possible to maintain energy export volumes at the level of previous years and ensured an increase in budget revenues from the production and export of oil, gas, and coal. However, there remains a need to continue work to strengthen the technological independence of the Russian fuel and energy complex, as well as to diversify energy supplies and search for new promising markets. One of the promising areas for developing energy exports and ensuring energy security may be expanded cooperation within the growing BRICS framework.
sanctions; oil; petroleum products; natural gas; coal; anti-sanctions measures; oil and gas revenues.