Regulating Russia's Oil Complex

摘要

The fuel and energy complex is the backbone of the Russian economy. It accounts for about 30 percent of industrial output, 32 percent of consolidated budget revenues, 54 percent of federal budget revenues, 54 percent of exports, and about 45 percent of foreign exchange earnings. Moreover, the oil industry fully meets domestic demand for liquid fuel. Therefore, the requirements for the quality and efficiency of government regulation in this economic sector in Russia are extremely high.