The economic sanctions imposed in 2022 by Western countries against Russia are likely to initiate structural changes in Russian exports and in the Russian economy for a long time, and create a risk that commodity trade may be disrupted. This article attempts a scientific analysis and critical understanding of the problem of the impact of sanctions on the business of Russian oil companies and energy exports from the Russian Federation. It is shown that since December 5 of this year, the European Union refuses to supply oil from Russia by sea, as well as the countries of the "Big Seven" together with the EU introduce a price ceiling on Russian "black gold". In addition, since December 2022, insurance of tankers carrying oil that costs more than the price ceiling set by Western countries is prohibited, which can significantly complicate the transportation of Russian oil by sea. In response to these initiatives of the West, the Russian authorities and the leadership of oil and gas companies are likely to take a number of steps to diversify the supply of oil and petroleum products to other markets, in particular to China and India. In addition, it is necessary to modernize existing refineries in order to increase the production of light petroleum products — diesel fuel, gasoline, kerosene and others. It is also necessary to examine in detail the current situation in the oil industry and develop a set of necessary support measures.