Support tools of Russia’s oil and gas industry under western sanctions restrictions

The article discusses the possibilities of promoting the development of the Russian’s oil and gas industry in the current unstable political and economic conditions. The analysis of tools and mechanisms to support the oil and gas industry to ensure energy independence and improve energy security of the fuel and energy complex of the Russian Federation through import substitution of critical technologies, development of legislative and tax measures to stimulate the development of the Russian state company. The authors of the study assess the effectiveness of state and corporate import substitution plans, external trade contracts and markets, as well as provide a forecast of possible ways of development of the oil and gas complex of Russia, taking into account sanctions restrictions, fuel prices and in the future competition with alternative energy sources. The implementation of effective state support for the Russian’s oil and gas industry can contribute to the development of scientific and technological potential of companies to implement the import substitution program, as well as to strengthen the position of the Russian Federation in the global system of energy resources.