Comparative analysis of the economic security of leading Russian oil and gas companies in the post-sanction period

The objective of the study was to assess the economic security of leading Russian oil and gas companies under sanctions pressure and to substantiate a mechanism for strengthening it. The methods used included horizontal and vertical financial statement analysis, calculation of liquidity, equity, and profitability ratios, and an integrated assessment using a modified Altman model. Results: The analysis revealed mixed dynamics: Rosneft, with a debt burden and a leverage ratio of 4.35, increased its integrated index from 0.70 to 0.89 by increasing its liquid reserves; Gazprom recorded a 43% drop in sales profitability due to the loss of European contracts; and RussNeft demonstrated the highest return on assets (0.13) despite a deficit of absolutely liquid assets (a ratio of 0.02). Conclusions: The results substantiate the need for a comprehensive mechanism combining threat monitoring, preventive risk management, and crisis response. The key principles of the proposed mechanism are preemption rather than reaction, operational flexibility as the nature of threats changes, and the creation of reserves for critical resources. Practical implementation varies by business scale: large companies benefit from capital-intensive export reorientation projects, while medium-sized companies can leverage the advantages of mobility with limited investment.

 For citation: Karsakov V.I. Comparative analysis of the economic security of leading Russian oil and gas companies in the post-sanction period // Uchenye zapiski Mezhdunarodnogo bankovskogo instituta [Proceedings of the International Banking Institute]. 2026. 1 (55). pp. 127-144 (in Russ.). EDN: MZRAGK.

Funding: This research received no external funding.