Russia is shown the future without oil.
The US and EU "oil" sanctions, which are having an effect on all the major oil and gas companies in Russia one way or another, close the possibilities of further cooperation with them in the field of the offshore production and shale oil. This will affect almost all promising projects of the companies in this area, which they expected in the future (except perhaps the Caspian projects of LUKOIL that are not formally subject to the sanctions). It will be difficult and expensive for Russia to cope on its own or to replace the Western technologies and contractors, the analysts state, but the government has already promised to give the industry access to the money of the National Welfare Fund.