The collapse of the Soviet Union leads to an economic and political transition accompanied by the lack of industrialization of the Russian Federation and the privatization of Russian state owned companies. Due to the lack of technological progress, the state was unprepared for the process of economic transition. At the same time, the process of globalization brings new opportunities for economic progress in Russia. The Russian Federation is the world’s largest exporter of gas, the second largest exporter of oil and the third larges exporter of coal. Thus, activities related to the production, distribution and consumption have the greatest impact on Russian economic growth. Due to the great importance of fossil fuels in trade and exports, Russia has made a good use of its energy potential. Total exports of oil, petroleum products and natural gas account for 55% of total exports and 88% of energy exports. Oil and gas revenues account for 20% of general government budget revenues and 39% of central government budget revenues. Oil revenues have a major impact on strengthening the currency and R&D investment. Also, revenues contibute to the emloyment stability in oil industry and price oscillations reduce. Novertheless, these funds are increasingly used to help companies and banks in solving their financil problems and to overcome general structural deficit. Generally, the export orientation could have negative impact to the competitiveness of other industries. Oil and natural gas are non-renewable energy sources so the Russian stability becomes questionable.