Analysis of the Russian Federation Role in the Global Fuel and Energy Complex

Abstract

In the current conditions of the changing geopolitical situation and the desire of many countries for energy
independence and the transition to more sustainable energy sources, the analysis of the Russian Federation role and
significance in the global fuel and energy complex is a relevant and important task that has geopolitical, economic, technological and environmental significance, influencing the adoption of informed decisions in the field of resource policy, ensuring sustainable development and strengthening Russia’s position on the world stage.
The analysis showed that the United States has been the undisputed leader in oil and gas production for a long time. This trend is due to the fact that US companies produce energy resources not on their own territory. As a result, the United States is trying to influence the politics and economy of other countries. Countries began to unite in alliances such as OPEC+ and BRICS to counter the pressure exerted by the United States.
The fuel and energy complex of the Russian Federation is currently going through difficult times, as the
production and export of energy resources has decreased due to the imposed sanctions. While exports from Russia have declined, countries with growing economies, such as China and India, are increasing energy production to ensure their economic independence.
Economic sanctions against Russia have an unprecedented impact on the global economy and its key sectors, including energy. The development prospects may be the most unfavourable for Western consumers. At the same time, for the Russian fuel and energy complex, the current challenges may become new opportunities in the technological development, investment and international partnership.