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.

The United Kingdom unveils a structured plan to double clean energy jobs, backed by over £50 billion ($61.04bn) in private investment and the creation of new training centres across industrial regions.
Vice President Kashim Shettima stated that Nigeria will need to invest more than $23bn to connect populations still without electricity, as part of a long-term energy objective.
EDF’s CEO said electricity prices will remain under control in 2026 as a new pricing system is set to replace the previous mechanism from January 1.
Talks on the Net-Zero Framework, which seeks to regulate greenhouse gas pricing on marine fuels, have been postponed until 2026 following a majority vote initiated by Saudi Arabia.
Liberty Energy warns about the impact of import duties on drilling and power equipment, pointing to a potential obstacle to federal goals related to artificial intelligence and energy independence.
Enedis will progressively reorganise off-peak hour time slots from 1 November, impacting 14.5 million customers by 2027, under new rules set by the Energy Regulatory Commission.
A report highlights the financial burden of fossil imports during the energy crisis and points to electrification as key to European energy security.
Prime Minister Sébastien Lecornu announced a review of public funding for renewable energy, without changing national targets, to avoid rent-seeking effects and better regulate the use of public funds.
The 2025 edition of the Renewable Electricity System Observatory warns of the widening gap between French energy ambitions and industrial reality, requiring immediate acceleration of investments in solar, wind and associated infrastructure.
Kogi State Electricity Distribution Limited reported a ₦1.3bn ($882,011) loss due to power fraud, threatening its operational viability in Kogi State.
More than 40 developers will gather in Livingstone from 26 to 28 November to turn Southern Africa’s energy commitments into bankable and interconnected projects.
Citepa projections confirm a marked slowdown in France's climate trajectory, with emissions reductions well below targets set in the national low-carbon strategy.
The United States has threatened economic sanctions against International Maritime Organization members who approve a global carbon tax on international shipping emissions.
Global progress on electricity access slowed in 2024, with only 11 million new connections, despite targeted efforts in parts of Africa and Asia.
A parliamentary report questions the 2026 electricity pricing reform, warning of increased market exposure for households and a redistribution mechanism lacking clarity.
The US Senate has confirmed two new commissioners to the Federal Energy Regulatory Commission, creating a Republican majority that could reshape the regulatory approach to national energy infrastructure.
The federal government launches a CAD3mn call for proposals to fund Indigenous participation in energy and infrastructure projects related to critical minerals.
Opportunities are emerging for African countries to move from extraction to industrial manufacturing in energy technology value chains, as the 2025 G20 discussions highlight these issues.
According to the International Energy Agency (IEA), global renewable power capacity could more than double by 2030, driven by the rise of solar photovoltaics despite supply chain pressures and evolving policy frameworks.
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.

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.