THE CURRENT STATE AND PROSPECTS OF RUSSIA’S POLICY IN THE GLOBAL OIL MARKET

Author(s): Baranov D.N., Bushueva N.V.

Rubric: Economy

DOI: 10.21777/2587-554X-2022-4-39-47

Release: 2022-4 (43)

Pages: 39-47

Keywords: export, global oil market, sanctions, countries of the collective West, embargo

Annotation: The article analyzes statistical indicators characterizing the volume of oil exports by Russia to global markets. The subject of the study is organizational and economic relations arising in the process of conducting Russia’s foreign trade policy on the global oil market. The research methods were statistical and graphical methods, analysis, synthesis, induction and deduction. The results of the work are conclusions about the prospects of Russia’s policy, based on the analysis of quantitative data characterizing the volume of oil exports to global markets. It is shown that in the conditions of sanctions restrictions by the countries of the collective West, Russia should focus on pursuing a policy of diversification of sales markets and import substitution in critical areas of the oil complex. Measures are proposed to overcome the sanctions restrictions imposed on oil exports by the countries of the collective West.

Bibliography: Baranov D.N., Bushueva N.V. THE CURRENT STATE AND PROSPECTS OF RUSSIA’S POLICY IN THE GLOBAL OIL MARKET // Economics and Management. – 2022. – № 4 (43). – С. 39-47. doi: 10.21777/2587-554X-2022-4-39-47