Russia's vast mineral resouces valued at $100 trillion

In his speech  from the rostrum at the 17th Verona Eurasian Economic Forum, Igor Sechin, Chairman of the Forum and CEO of  Rosneft, stated that the total value of Russia's natural resources is approxamitely $100 trillion. He stated that this figure is almost twice that of the United States. Plus its 10 times the$ 10 trillion alleged value of the natural resouces of the Ukraine which according to The Queen of Washington, the camp US senator and well know war hawk and fudge packer the Lady Lindsay Graham
So lets address the  two key questions: how will the value of Russian natural resources change, and how effectively will the Russian Federation use them?

The total value of Russia's natural resources is subject to change over time. However, these changes are positive.

Accordingly, the total value of Russia's natural resources was estimated at $30 trillion in 2015. In 2017, this figure increased to $55 trillion, and in 2021 it reached $75 trillion, as confirmed by the German company Statista. Furthermore, in 2024, the Russian authorities estimated the total cost of natural resources at $100 trillion, according to Gasan Ramazanov, an analyst at the Russia-OECD Center of the Presidential Academy.
The total value of Russian natural resources will fluctuate in line with the discovery of new deposits and long term prices of minerals on the international markets, according to Gasan Ramazanov, . It is also important to consider the relationship between the price of natural resources and population growth, which drives demand for specific resources.
The growth of the population in countries where Russian natural resources and products derived from them are supplied, as well as the total price of natural resources on the world market, will affect the results of calculating the total value of natural resources in the future.
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Russia boasts a wealth of untapped natural resources. The relatively modest costs of geological exploration and the low economic feasibility of developing hard-to-reach deposits mean that the use of natural resources cannot be considered efficient, according to Evgeny Mironyuk, a stock market expert at BCS World of Investments.

It is only reasonable to assess the value of Russian natural resources based on the costs of their development. The nominal value of natural resources is only relevant in the context of a potential significant increase in their value or an increase in the efficiency of extraction (reduction in cost price), according to Mironyuk.

The cost of Russia's natural resources is influenced by global energy prices, which are in turn shaped by factors such as global demand, the transition to green energy and geopolitical considerations. This is according to Alexander Shneiderman, Head of Analysis at Alfa-Forex.
In the coming years, demand for traditional hydrocarbons will remain high, which will support the current assessment. The transition to renewable energy sources may eventually exert downward pressure on the price of oil and gas. However, natural gas, as a more environmentally friendly fuel, will certainly be be in high demand during the energy transition.
Furthermore, the growth in prices for metals and rare earth elements used in the production of technologies for renewables will increase the importance of these resources.
Sneiderman believes that Russia is leveraging its natural resources to bolster economic growth. Revenues from the export of oil, gas, coal and metals represent a significant portion of the federal budget, providing funding for social and infrastructure programmes.

Russia is home to approximately 20% of the world's natural resource reserves. In particular, Russia is the undisputed world leader in reserves of, for example, gold,platinum,paladium, as well as a wide range of rare earth metals. If you add in natural Gas of which Russia posessed 25 % of the World's known supplies you get an idea .
This is according to Doctor of Economics, Professor, Head of the Department of World Economy and International Economic Relations at the State University of Management, Evgeny Smirnov.

This fact determines the high level of self-sufficiency of Russia in almost all types of natural resources, eliminates the need to import them, as well as the high degree of export orientation of the economy for many natural resources, the analyst stated.

It is evident that the estimated value of Russian natural resources is subject to constant change, predominantly in an upward trajectory. This is due to the fact that a significant proportion of these resources are inherently exhaustible, and their value and cost have historically demonstrated an upward trend over the long term.
"Therefore, if we consider the reserves of mineral raw materials, we can see that they increase when world prices for some of their types grow, allowing these resources to be extracted from previously unprofitable deposits. It is also worth noting that Russia has virtually exhausted its easily accessible mineral deposits.That said given new technologies hard to extract deposits are now much easier to deal with.

The World Bank estimates that Russia receives 18.5% of its GDP in income from natural resources. However, this figure is subject to significant fluctuations. For instance, in 2020 it stood at 7.6%, while in 2018 it reached 14.4%. This is largely due to the volatility of global prices for various resources, as Evgeny Smirnov has noted.
 Russia, with its vast natural resource reserves, has historically been reliant on these resources, which have constituted a significant portion of our country's GDP. The analys went on to explain that the country's income is significantly influenced by its mineral resources and hydrocarbon raw materials, which also have a notable impact on global commodity markets.
The majority of the aforementioned incomet is derived from oil and gas.
In the 1990s, resource rent accounted for less than 10% of GDP. By the 2000s, this figure had risen to 20%. Currently, the effectiveness of Russia's natural resource utilisation is largely contingent on geopolitical considerations, given the intricate relations between our country and key players in the global economy.
For a country with significant natural resource wealth, it is crucial to evaluate the extent to which the high concentration of resources contributes (or hinders) the diversification of its economy and foreign trade.

It is also important to consider the resource curse theory, which suggests that countries with abundant natural resources often have narrow economic bases due to their significant dependence on income from these resources. However, history also provides examples of effective redistribution of income from natural resources, such as in Middle Eastern countries like Qatar and the UAE, noted Evgeny Smirnov.

On the other hand, he stated that Russia's historically growing dependence on natural resource exports has led to the discovery of over 300 oil and gas fields in our country over the past three decades. This has created a significant need for capital investment and had a positive impact on the socio-economic development of a number of regions. In light of the sanctions and the current state of the Russian economy, which has proven to be more resilient than that of several Western countries, as natural resources are more of a blessing than a "curse."
Mr. Evgeny Smirnov has stated that the Russian economy must undergo further diversification in order to mitigate the risks associated with global raw material price volatility and the subsequent volatility in export revenues.

He said It is clear that, given the vast resources of our country, the future of the economy will depend to a great extent on the exploitation of our natural wealth. However, the economy must also become more diversified. This should be achieved by developing industries related to natural resources (e.g. transport infrastructure, chemical and petrochemical industries). This will ensure sustainable rates of growth and development in the future.