Russia holds a pivotal position in the global energy market,and the oil industry is an important pillar of its domestic economic development.Since the outbreak of the Ukrainian crisis in 2022,the United States and other western countries have imposed multiple rounds of sanctions on Russia in the fields of energy,trade,investment,and finance,triggering a dramatic change in the international energy landscape.Systematically review the basic situation of Russia's crude oil production and exports,explain the sanctions and response measures faced by Russia in oil exports and energy investment,analyze the impact of the Ukrainian crisis on international oil trade and energy patterns,as well as its impact on China's oil trade and processing.It is concluded that:(1)Russia is rich in oil and gas resources,mainly concentrated in western Siberia and Volga-Urals refueling areas.The eastern and Arctic regions will become the focus of its exploration and development,with great potential for increased production.(2)In response to Western sanctions,Russia has taken a series of countermeasures.The impact of sanctions on Russia is relatively limited,but it has had a profound impact on the international energy landscape:The international oil trade flow has undergone a restructuring;International oil prices fluctuate at high levels;The EU is seeking diversified supply of fossil fuels while accelerating the pace of energy transition.(3)Under the background of sanctions,although China's import of low-priced Russian oil can achieve certain economic benefits,the tight international oil supply caused by sanctions will push up crude oil discounts and freight rates in the Middle East,West Africa,North and South America,and increase the total cost of China's imported oil.Faced with the severe and complex international energy situation,it is recommended that China strengthen cross-border infrastructure construction,actively explore diversified energy supply paths,steadily promote energy transformation,and pay attention to enhancing financial resilience.
RussiaUkraine crisispetroleum industryenergy sanctionsinternational energy patternenergy security
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