MOSCOW, July 27 The first US sanctions against the Russian oil industry have pushed the Russian oil industry towards real, not paper, import substitution, said Alexey Gromov, Chief Director for Energy at the Institute of Energy and Finance (IEF), in an interview.
The first sectoral sanctions by the US and the EU were introduced in July 2014, affecting the financial and energy sectors, as well as the supply of technology and equipment for oil production on the Arctic shelf, deep-water fields and in shale projects.
According to Gromov, the purpose of the first sanctions was to limit the long-term prospects for the technological development of the Russian oil and gas industry, since it was assumed that Russia was very deeply dependent on foreign decisions.
«After 10 years, we can conclude that these technological sanctions have become a real impetus for the real, not «paper» implementation of the import substitution program in Russia,» Gromov said.
According to him, before the sanctions, oil companies preferred to buy the best technological solutions and equipment in the West and not risk money in an attempt to create their own competencies. «Thus, before the sanctions were introduced, the oil industry was developing in the wrong direction, we were becoming increasingly dependent on imports,» he noted.
However, in light of the restrictions, the Russian government presented an import substitution program, in which one or a group of companies with the greatest competence was responsible for each area. «These efforts have led to the fact that today we have already reached our own technologies and equipment for a wide range of positions,» the agency's interlocutor concluded. 
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