Neftyanaya Provintsiya Journal

No.1(17),2019

ECONOMIC SANCTIONS: COSTS AND BENEFITS FOR THE OIL AND GAS AND BANKING INDUSTRIES IN MODERN TERMS

Lobusev A.V., Yakimov A.S., Khafizova G.R., Fatkhutdinova R.A., Nikitin T.O.

DOI https://doi.org/10.25689/NP.2019.1.251-265

PP.251-265

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Abstract

The modern unstable economic processes between the participants of the financial and commodity markets not only in Russia, but also in the international format, which are caused by sanctions against oil and gas companies and systemically important banks of the country, have led to the need to neutralize the emerging external challenges in the form of unplanned risks of doing business and reorientation of partnership and financial and economic relations from some participants in the world markets to others. At the same time, there was a definition of ways to reduce risks among banks and oil and gas companies by identifying domestic, national sources, allowing to gradually reduce financial gaps in the course of the gradual development of sanctions For oil and gas companies and commercial banks, the risks caused by sanctions were significant not only from the point of view of not being incorporated in their tactics and strategies of doing business, but also from the point of attracting foreign capital to continue effective management of their own projects, customer service, and so on. The ability to generate projected profits and other financial/non-financial benefits in the face of evolving risks has proved difficult. Today there is a favorable tendency of gradual stabilization of activity of these categories of institutions and, accordingly, reduction of financial risks in the form of reduction of financial result of the activity.

Key words:

risk, Bank risks, financial risks, oil and gas risks, oil and gas business, banking system, sanctions, profit.

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Authors

Lobusev A.V., Doctor of geological-mineralogical Sciences, Dean of the Faculty of Geology and Geophysics, RSU of oil and gas I. M. Gubkin, Moscow, Russian Federation E-mail: lobusev@gmail.com

Yakimov A.S., Сandidate of geological-mineralogical Sciences, associate Professor of General and petroleum Geology, RSU of oil and gas I. M. Gubkin, Moscow, Russian Federation E-mail: yakimov-geo@yandex.ru

Khafizova G.R., СS (Economic), Assoc. Prof. of the financial markets and financial institutions Department, Institute of management, Economics and Finance of Kazan (Volga) Federal University Kazan, Kazan, Republic of Tatarstan, Russian Federation E-mail: GulnRHafizova@kpfu.ru

Fatkhutdinova R.A., Master of Economic, Institute of management, Economics and Finance, Kazan (Volga) Federal University, Kazan, Republic of Tatarstan, Russian Federation E-mail: yumio.moe@yandex.ru

Nikitin T.O., Master of Economic, Institute of management, Economics and Finance, Kazan (Volga) Federal University, Kazan, Republic of Tatarstan, Russian Federation E-mail: sound4ek@gmail.com

For citation:

A.V. Lobusev, A.S. Yakimov, G.R. Khafizova,  R.A. Fatkhutdinova, T.O. Nikitin Jekonomicheskie sankcii: izderzhki i vygody dlja neftegazovoj i bankovskoj otraslej v sovremennyh uslovijah [Economic sanctions: costs and benefits for the oil and gas and banking industries in modern terms]. Neftyanaya Provintsiya, No. 1(17), 2019. pp. 251-265. DOI https://doi.org/10.25689/NP.2019.1.251-265 (in Russian)