Problems and prospects for the development of foreign economic activities of the oil and gas sector of Russia in the conditions of global transformation of the energy system

The foreign economic activity of Russia’s oil and gas industry plays a key role in the national economy, contributing a significant share of state revenues and influencing social development. Russia is one of the world’s leading producers and exporters of oil and gas, which makes this sector strategically important for national security and sustainable economic growth. Amid globalization and evolving geopolitical conditions, the Russian oil and gas sector faces new challenges and opportunities. In recent years, due to sanctions imposed by Western countries, there has been a noticeable shift in the structure of global energy demand, increased competition from alternative energy sources, and reconfiguration of trade routes. These factors necessitate the adaptation of Russian companies to new conditions and the search for alternative export markets. This article explores the key challenges and prospects for the development of foreign economic activity (FEA) in the oil and gas sector of the Russian Federation. It provides an analysis of the current state of Russian oil and gas exports, identifies the main barriers hindering further development, and offers recommendations for overcoming these obstacles and developing an effective strategy for accessing international markets for raw materials and hydrocarbon-based products. Particular attention is given to the diversification of Russian oil export flows, adaptation to shifts in the global energy landscape, the transformation of foreign trade structures in the energy sector, and the enhancement of the international competitiveness of Russian products amid rising global competition and geopolitical risks. Note: Specific references to companies such as Lukoil or Rosneft were intentionally omitted, as they are not central to the article’s primary focus.