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Jinsok Sung (Gubkin Russian State University of Oil and Gas): Implication of sanctions on Russian energy sector

Jinsok Sung (Gubkin Russian State University of Oil and Gas): Implication of sanctions on Russian energy sector

Abstract
Energy sector is an integral part of Russian economy. Energy industry comprises of various sectors such as oil, gas, coal, renewables, nuclear and other related activities. In this paper, we consider implications of the economic sanctions on oil and gas sector. Oil and gas are the country’s two largest export commodities and the biggest contributors to GDP. We discuss how energy industry in Russia reacted to the sanctions and what kind of changes in the industry have been done in response to the sanctions.

 

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