Russia: Alexander Novak, pillar of Russia’s energy and economic strategy

Alexander Novak, bolstered by a new economic role in Russia, aims to thwart sanctions while steering relations with OPEC+.

Share:

Novak Russie Économie Énergie Sanctions OPEC+

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Alexander Novak, a key figure in the Russian government, sees his responsibilities broaden. From now on, he will manage not only relations with OPEC+, but also Russia’s economic development. These new functions also include the management of countermeasures to international sanctions. In addition, the government announced this addition to its portfolio following the appointment of Andrey Belousov, the former Minister of Economic Development, as Minister of Defense. This transition is taking place against a backdrop of protracted war in Ukraine.

Economic strategy and sanctions

Novak plays a pivotal role in Russia’s economic reorientation. He is committed to strengthening the country’s economic competitiveness. His goal is ambitious: to make Russia the world’s fourth-largest economy by 2030. He is convinced that Western sanctions, while binding, represent an opportunity. They are pushing Russia to speed up an already necessary economic transformation.

Impact on the energy sector

Novak keeps an eye on the energy sector. Under his leadership, Russia continues to play a major role in OPEC+. At the same time, he is overseeing strategies to overcome sanctions on oil exports. Russia is adapting its trade flows and developing alternative routes. In addition, these new routes are designed to ensure that Russian resources reach new markets, such as India.

Logistical changes and responses to sanctions

Russia is also stepping up its logistics to get around the restrictions. A growing fleet of “ghost” tankers is used to divert oil to non-traditional destinations. This helps Russia maintain its oil revenues. In addition, efforts are being made to overcome the technological barriers imposed by the EU and the USA. Particularly in the refining sector.
The expansion of Novak’s responsibilities under President Vladimir Putin underlines his position of trust. It is now at the heart of efforts to adapt the Russian economy to global challenges. Its role is crucial in ensuring Russia’s economic and energy stability in the face of Western sanctions.

Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.
Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
The government of Kinshasa has signed a memorandum of understanding with Vietnam's Vingroup to develop a 6,300-hectare urban project and modernise mobility through an electric transport network.
ERCOT’s grid adapts to record electricity consumption by relying on the growth of solar, wind and battery storage to maintain system stability.
The French government will raise the energy savings certificate budget by 27% in 2026, leveraging more private funds to support thermal renovation and electric mobility.
Facing opposition criticism, Monique Barbut asserts that France’s energy sovereignty relies on a strategy combining civil nuclear power and renewable energy.
The European Commission is reviving efforts to abolish daylight saving time, supported by several member states, as the energy savings from the practice are now considered negligible.
Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
The Finance Committee has adopted an amendment to overhaul electricity pricing by removing the planned redistribution mechanism and capping producers' profit margins.
The European Commission unveils a seven-point action plan aimed at lowering energy costs, targeting energy-intensive industries and households facing persistently high utility bills.
The European Commission plans to keep energy at the heart of its 2026 agenda, with several structural reforms targeting market security, governance and simplification.
The new Liberal Democratic Party (LDP)–Japan Innovation Party (Nippon Ishin no Kai) axis combines a nuclear restart, targeted fuel tax cuts and energy subsidies, with immediate effects on prices and risk reallocations for operators. —
German authorities have ruled out market abuse by major power producers during sharp price increases caused by low renewable output in late 2024.
A new International Energy Agency report urges Maputo to accelerate energy investment to ensure universal electricity access and support its emerging industry.
Increased reliance on combined-cycle plants after the April 28 blackout pushed gas use for electricity up by about 37%, bringing total demand to 267.6 TWh and strengthening flows to France.
The United States announces a tariff increase beyond the 10% base rate targeting several Colombian products. Bogotá has recalled its ambassador. The detailed list of tariff lines has not yet been published, while Colombia’s ban on coal exports to Israel remains in effect.
The president-elect outlines a pro-market agenda: gradual reform of fuel subsidies, review of Yacimientos de Litio Bolivianos (YLB) lithium contracts, and monetization of gas transit between Argentina and Brazil, prioritizing supply stabilization.
A three-year partnership has been signed between Senegal and two Quebec-based companies to develop the country’s geoscientific capacity and structure its energy sector through technological innovation.
The South African government plans 105,000 MW of additional capacity by 2039 to redefine its energy mix, support industrialisation, and strengthen supply security.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.