In his column in the Neft Rossii magazine, Anton Oussov, Partner and Head of KPMG’s Oil & Gas Practice in Russia and the CIS, comments on the effects of sanctions imposed by the EU and the US on the Russian oil & gas industry (fewer or no opportunities to attract external investment and import foreign technologies), as well as the oil price decrease following numerous conflicts across the globe.
In the current environment, both the oil & gas industry and Russia need a crisis management plan.
"With a substantial Reserve Fund, prudent federal expenditures and well-developed life-supporting industries, Russia can navigate through the difficult times with minimal losses – even if the global economy develops based on the worst-case scenario," believes Anton.
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