Russian oil trade in the face of economic sanctions

The world’s energy matrix is heavily dependent on fossil fuels, but nowadays it is in transition to a greater and better use of renewable sources, such as wind, solar, hydroelectric, biomass, alcohol, biodiesel. Since the beginning of Russia’s special military operation in Ukraine on February 24, 2022, the European Union has imposed massive and unprecedented sanctions against Russia. These sanctions are in addition to the measures already imposed since 2014. Sanctions include specific restrictive measures against individuals, economic sanctions, diplomatic measures, and stricter visa procedures. The purpose of economic sanctions is to impose consequences on Russian economy for its actions and thwart its ability to continue the conflict. Seeking the application of a model that makes it possible to provide the best energy sources under the best conditions, this work analyzes a decision-making model for the supply of physical commodities using fuzzy tools. To achieve the best decision in the supply of the considered energy source, three steps must be considered for the application of the hierarchical fuzzy method, namely: 1) refining margin screening; 2) the fuzzy matrices of technical selection; 3) fuzzy ranking so that the decision maker has better conditions for his analysis. A case study was elaborated using the new Three-Step Selection Method, with fuzzy ranking for the selection of crude oils for supplying refineries, using the COPPE-Cosenza Hierarchical Method, which also can be used on any investment decision making.