The Specifics of Russian Foreign Oil and Gas Policy under the Influence of Sanctions of Countries of the European Union in 2014-2023

In today's global landscape, sanctions have emerged as a significant tool for countries in their foreign policy endeavors. During the review period, the Russian oil and gas industry has been subjected to significant sanctions pressure, with intensification in 2022. The European Union (EU) has been a main initiators of sanctions. Under these circumstances, traditional economic ties have been disrupted, economic benefits, and political objectives have come into conflict, leading to a negative impact on Russia's economic development. In response to these challenges, Russia's oil and gas policy has undergone a transformation, adopting new strategies to mitigate the negative effects of sanctions and develop mechanisms to bypass them. Additionally, response measures have been implemented against countries that initiate sanctions. At the same time, the period under consideration in this study can be divided into two phases, each with its own set of sanctions and their effectiveness, and thus a different impact on Russia's foreign oil and gas policy. Within the framework of the study, two main phases can be identified: 2014-2021 and 2022-2023. Therefore, the aim of this work is to identify the specific characteristics that emerged in Russia's foreign oil and gas policy under the impact of sanctions imposed by European countries during the period 2014 to 2023.