Others have different opinions:
US Sanctions Against Russia Might Just Have Saved the Polar Bear
https://news.vice.com/article/us-sanctions-against-russia-might-just-have-saved-the-polar-bear
Without technical assistance from Western oil and gas companies, however, Rosneft may be unable to continue its offshore exploration in the Arctic, says Heather Conley, senior vice president for Europe, Eurasia, and the Arctic at the Center for Strategic and International Studies (CSIS).
Clearly ExxonMobil — according to its reading of the sanctions law — had to depart the field,” Conley told VICE News. “Time will tell if Russian companies can develop these resources without the technological expertise of Western companies and the backing of international finance.”
Russian companies, added Conley, lack offshore drilling expertise and rely on other producers like BP, Shell, and ExxonMobil for help in the technically challenging waters of the Arctic Ocean. Specialized equipment is needed to withstand the frigid conditions of the far north and rough conditions can test the abilities of even the most skilled drillers.
China might be able to offset the loss of international finance due to US and EU sanctions, explained Conley, but it won’t be able to replicate the West’s technological know-how.
I suppose Russia could hire those folks from Exxon who lost their jobs.