Life under sanctions or is there light at the end of the import substitution tunnel

The sector has been under sanctions imposed by the USA, Canada and the EU for almost two years. They restrict access to credit resources and technologies, create problems with marketing and change the psychology of operation of Western companies in Russia making the latter more cautious and careful.

Has Russia found a response to this challenge; has it benefited in some way, e.g. accelerated import substitution that Russian officials are so fond of taking about? Answers to these and other questions are found in this new report.

The report elaborates on the following topics:

• The oil and gas sector in search of the money

  • Debt burden of majors amid lack of access to Western capital markets
  • How do companies find resources to pay off credits and investments

• Nonresidents in the Russian oil and gas sector

  • The fate of projects of Western companies and arrival of Asian investors
  • Positions of Chinese and Indian companies in Russia, prospects of cooperation with them

• In search of technologies. The influence of sanctions on offshore projects and development of tight reserves

  • The real situation around creation of necessary technological solutions in Russia

• Sanctions, Russian market of oil services

  • Nonresidents are not leaving, but VIOCs want to get back assets they previously sold
  • The future model of development of services business in Russia

• The influence of sanctions on assets redistribution in the sector

  • Sanctions as impetus to privatization and catalyst of new redivision of property in the sector
  • Struggle of clans for assets

• Prospects of lifting of sanctions, scenarios of developments in the besieged fortress

Contents of the report: