Russian dependency on oil market has noticeably increased

Russia's dependence on the oil market has noticeably increased over the past decade. This opinion was expressed on by chairman of the council of the union of Russian oil and gas industrialists Yuri Shafranik.
According to the chairman, large investments in the oil and gas industries are necessary for the dynamic development of the industries and, consequently, for larger revenues to the federal budget.

Shafranik regretted that in actual fact, there were no such investments in the past 13 years. He claimed that money should be invested in long-term projects, and that Russia should not preclude a possibility of establishing consortia with foreign companies.
The head of the union of Russian oil and gas industrialists instanced the Sakhalin-1 and Sakhalin-2 projects as specific examples of such cooperation.