Economic security of the Russian oil and gas sector in the context of geopolitical shocks: economic and legal analysis

¹ Saratov State Law Academy, Volskaya st., 1, 410056 Saratov, Russian Federation
² National Research University «Higher School of Economics», Myasnitskaya str., 20, 101000 Moscow, Russian Federation
³ Kalmyk State University named after B. B. Gorodovikov, Pushkin Str., 11, 358000 Elista, Russian Federation

^* Corresponding author: rafikov.ruslan@list.ru

Abstract

The article reveals the key aspects of the problem of ensuring the economic security of the Russian oil and gas sector at the regional, national and global levels in the context of geopolitical and economic shocks caused primarily by the introduction of economic sanctions against Russia. The authors used complex and systemic approaches, which consisted in a comprehensive study of the problems of economic security of the oil and gas sector, considered as an open system, and the study of the impact of sanctions against it not only on individual companies, but also on the entire national economy. The relevance of such areas of scientific research as the assessment of the consequences of the anti-Russian sanctions policy against the oil and gas sector and the study of its systemic effect as a result of the integral impact on the national economy, as well as the analysis of measures has been confirmed, undertaken by domestic companies and the Russian Federation as a whole, in response to the economic sanctions of the West. A matrix of the effects of the anti-Russian sanctions policy on the oil and gas sector is proposed, which demonstrates, firstly, the ambiguous impact of sanctions on oil and gas companies and the Russian economy, and secondly, shows that sanctioning countries face significant costs of the sanctions war for their economies. It is established that the degree of negative impact of restrictions on the object of sanctions and the ability to resist them depends on a variety of economic and political factors that are different in nature and multidirectional in effect. The Russian oil and gas sector in 2022 showed a good ability to ensure the stability of functioning under economic pressure.