Sechin called the oil sector a key donor to the Russian economy.

The oil sector remains a key donor to the Russian economy, said Igor Sechin, Executive Secretary of the Presidential Commission for the Development Strategy of the Fuel and Energy Complex and Environmental Safety, delivering a key report at the Energy Panel at SPIEF 2026.

"The oil sector remains a key donor to the Russian economy: it generates about 40% of all export revenue and creates a significant multiplier effect, ensuring demand for products from other industries," he said. According to him, last year the total tax revenues of the oil and gas complex and related industries amounted to about 17 trillion rubles, almost a quarter of the consolidated budget revenues.

At the same time, Igor Sechin noted that the Russian oil and gas industry is affected not only by external constraints, but also by unfavorable macroeconomic conditions. "The current level of interest rates leads to a significant increase in debt servicing costs, which worsens financial stability," said the executive secretary of the Fuel and Energy Complex Commission.

At the same time, Sechin noted, the strengthening of the ruble exchange rate has a negative impact on the industry. "The inexplicable mechanism of the ruble exchange rate formation reduces the incomes of exporters and the Russian budget. According to the calculations of the Russian Academy of Sciences, the federal budget's losses from the strengthening of the national currency last year alone amounted to more than two trillion rubles," Sechin said.

In his opinion, the pressure on the industry is also exerted by the rise in tariffs of natural monopolies ahead of inflation, which increases pro-inflationary risks and limits the development of the real economy.

"Reasonable decisions on these issues will support the economy and quickly produce the results that our country needs," Igor Sechin is confident.