Authors
Tatiana Lanshina1; 1 No Institute, Germany Discussion
In just two years, the Russian oil and gas sector has undergone a profound transformation, unlike anything witnessed in recent decades. The catalyst for this transformation has been the imposition of Western sanctions following the start of the Russian war in Ukraine, prompting Russia to redirect its oil and gas exports from the Western markets to the Eastern ones. This shift has led to Russia's diminishing role as a primary supplier of fossil fuels to Europe, relegating it to a minor position in that regard. Apart from that, Russia is currently grappling with substantial challenges concerning investments and access to technologies. This paper aims to explore the pivotal role of oil and gas in the Russian economy and how it has been impacted by the ongoing conflict in Ukraine. It delves into the strategies that Russia is employing to safeguard its oil and gas industries and examines the efficacy of these strategies. Furthermore, the paper considers the social and regional implications stemming from Europe's gradual phasing out of Russian fossil fuels. Finally, it speculates on the future trajectory of the Russian oil and gas sector and its broader economic implications. 
