Russia approved a development plan in 2012 to rebuild the petrochemical sector after decades of underinvestment. The plan is also seen to help reduce Russia's economic reliance on upstream oil and gas revenues. However, Russia's efforts to develop its petrochemical sector will be hampered by several key factors, such as western sanctions and the devalued rouble. Russia will now have to recalibrate its expectations of increasing its footprint in the global petrochemical market.
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Insight | Apr 2015
Russia's aspirations of petrochemical leadership are fading
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