Understanding Russia’s oil and gas revenues

How sustainable are Russian macroeconomic and fiscal policies in the medium term? What could the impact of slower technology development be on the segments of the oil and gas industry that require the application of advanced technological solutions, (for example, in LNG business)? Will the new reliance on China and India as primary export markets for Russian oil and gas provide sufficient profit margins for the Russian exporters? While all these questions are beyond the scope of this paper, they represent key signposts for monitoring Russia’s future economic performance.