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Russia leads global energy markets despite sanctions – PM Mishustin

Published on April 01, 2025 at 09:25 PM

Prime Minister Mikhail Mishustin on Tuesday declared Russia the dominant country in global energy markets, despite sanctions.

The PM spoke at a session on oil and coal industries development by 2050, where he elaborated on the New Nuclear and Energy Technologies.

According to Mishustin, the project will strengthen Russia's technological sovereignty, sustaining its status as a great power.

The prime minister asserted that, even with punitive actions by several nations, “Russia maintains leading positions in global energy resource markets.”

He added that Russia is “proactively expanding logistical routes, primarily towards friendly countries, and financing appropriate infrastructure.”

Mishustin said the New Nuclear and Energy Technologies project stipulates increased support for the design and implementation of advanced national solutions, modern materials, equipment and component
parts.

The project will help companies accelerate the modernisation of their production facilities and join efforts to create a solid foundation for future growth.

Annual investment in the oil sector exceeds 5 trillion roubles, Mishustin said, impacting the development of many related sectors.

“Russia accounts for about 10 percent of the global oil market,” the PM added. “We are working with our OPEC+ partners and are aware of our responsibility for global energy security.”