Russia’s economy is under significant pressure due to tough sanctions imposed by the United States (US), the European Union (EU), and other countries. The main goal of the sanctions is to restrict Russia’s ability to continue the war against Ukraine. Sanctions targeted almost all key industries of Russia, including mineral fuels. Calculations based on the International Trade Center (2023) data show that mineral fuel exports have accounted for around 50% of the country’s total exports for the last five years. However, despite all economic costs Moscow continues its policy towards Ukraine and tries to find alternative ways to retain global markets.
