The Impact of Sanctions on Oil Companies on the Example of Surgutneftegaz

The oil-extracting and gas industries occupy the most part in federal revenues of the Russian Federation that says that the economy of Russia strongly depends on the oil and gas industry. The anti-Russian sanctions affecting functioning of the oil and gas sector of the Russian Federation represent serious threat for development of national economy and the state in general. This work contains the analysis of influence of sanctions on the oil-extracting industry of Russia. During work approaches to definition of a concept of economic sanctions were analyzed, the analysis of chronology of introduction of the anti-Russian sanctions and also the analysis of the oil-extracting sector of the Russian Federation is carried out. As a research the econometric analysis estimating influence of such parameters as total market capitalization, quarterly average price of oil, existence of financial and technological sanctions, tax burden, etc. was carried out. As a result of the done work conclusions were drawn that sanctions had no due impact on the oil-extracting companies and, in particular, on «Surgutneftegas», and a major factor influencing their cost price of oil renders.