The Energy Frontier -The Power and Challenges of Russia’s Oil Reserves in the 2020s

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Russia holds the worlds eighth-largest proven oil reserves, mostly concentrated in Western Siberia, Arctic basins, and offshore areas. Its petroleum industry has been both a source of national power and a geopolitical lever especially during crises like the Ukraine war. Sanctions, aging infrastructure, and environmental challenges have pressured production and export strategies. Yet Russia continues to reorient toward Asian markets and invest in Arctic exploration, despite climate and technological risks.