Current Trends in the Development of International Business in the Energy Sector in the Russian Federation

Abstract

The relevance of the study is related to the importance of the export of Russian energy raw materials to world markets, and even in the face of sanctions pressure, the investment attractiveness of this sector of the economy does not lose its importance in the eyes of foreign partners.The purpose is to analyze trends in the development of international business in the energy sector of the Russian Federation.Objectives: analyze the current state of logistics orientations for the export of Russian energy raw materials; to show the investment attractiveness of the Russian energy market for foreign partners.Methodology. The works of domestic and foreign specialists were used as initial theoretical materials. International business and its development in the energy sector are analyzed within the framework of the Triple Embeddedness Framework (TEF). The information base is represented by statistical data from Worldtradelaw, materials from the Official Website of the International Trade Administration, the Competence Center for Interaction with International Organizations (Globalcentre), the Ministry of Energy and the Central Bank of Russia, and energy companies of the Russian Federation.Results. It has been proven that due to the difficult geopolitical situation and sanctions pressure, the Russian energy business experienced some investment difficulties, but quickly regained its influence and again began to attract significant amounts of foreign direct investment.Conclusions. Promising areas of business cooperation in the energy sector for Russia are the UAE, Vietnam as a potential future importer of LNG, China, which today accounts for the bulk of Russia's total energy trade, and other East Asian countries.