Russian oil industry amid sanctions on technology export and investment support

The economic sanctions of Western countries have significantly limited the realization of the potential opportunities of the Russian oil industry. Important investment projects with the participation of foreign partners, realistically assessing the risks of further international cooperation, have been suspended or blocked. The development of hard-to-recover hydrocarbon reserves requires modern technologies with an adequate investment permit. Strategically, the stake on the exploitation of existing oil fields is not economically justified. In the context of limited investment in the country's fuel and energy complex on the part of Western partners, its innovative development is possible only with full government support.