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Retrospective analysis of energy sanctions against Russia and their impact on operations of pipe-rolling plants

Vol. 16, Iss. 3, MARCH 2020

Received: 27 December 2019

Received in revised form: 18 January 2020

Accepted: 2 February 2020

Available online: 16 March 2020

Subject Heading: ECONOMIC SECURITY

JEL Classification: G30, L10, N05, O29, P00

Pages: 536–546

https://doi.org/10.24891/ni.16.3.536

Malyutina T.D. Volga Institute of Economics, Pedagogy and Law, Volzhsky, Volgograd Oblast, Russian Federation
malutinatd@mail.ru

https://orcid.org/0000-0002-0144-6464

Subject The article focuses on sanctions against Russia’s energy sector.
Objectives The article represents my own comprehensive study into sanctions against Russia’s energy sector and their impact on operations of pipe-rolling plants. The study spotlights the most significant milestones of the oil and gas industry, analyzes the sectoral impact on the development of pipe-rolling plants and pressure of the war against pipelines on the Russian manufacturers.
Methods The study employs methods of comparison, research, monographs and logic.
Results What distinguishes the Russian pipe-rolling plants is their importance for operations of oil and gas producing sectors. Based on the retrospective analysis of energy sanctions against Russia, I conclude that tensions in economic relations of European countries, and the USA and Russia last too long. Energy sanctions definitely influence operations of pipe-rolling plants. Export barriers obstructed the influx of investment into the respective sector and affected the financial performance of enterprises. However, a drop in exports of pipe-rolling plants’ products fuels their domestic distribution plans, thus contributing to the positive economic situation nationwide.
Conclusions and Relevance Economic sanctions will influence the development of the Russian oil and gas companies in the distant future, since the Russian enterprises manufacture high-tech products insufficiently, while supplies from China are not yet reliable. Sanctions against Russia trigger the development of the Russian enterprises manufacturing high-tech products and large diameter pipes for the oil and gas industry.

Keywords: energy sanctions, pipe rolling plant, oil and gas

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