Oil is often considered a “political” good affected by the changes in international political relations. Using a novel dataset on Russian oil-exporting companies over 1999–2011, we find that a worsening in political relations between Russia and an oil-importing country results in a considerable reduction in oil shipments by Russian oil exporting firms into that country, the effect being stronger for state-owned firms. Using leadership changes in oil importing countries as exogenous shocks to political relations, we show that this relationship is causal. However, total exports revenue of Russian oil exporting firms is not affected much, as they seem to be able to recover losses incurred in one market by increasing their sales in other markets. At the same time, the countries importing oil from Russia (especially the ones heavily dependent on Russian oil) see their total oil and energy imports decline (JEL F51, F65, G15, Q34).

中文翻译：

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国际政治和石油贸易：来自俄罗斯石油出口的证据

石油通常被认为是受国际政治关系变化影响的“政治”商品。使用 1999-2011 年俄罗斯石油出口公司的新数据集，我们发现俄罗斯与石油进口国之间的政治关系恶化导致俄罗斯石油出口公司向该国的石油运输量大幅减少，影响对国有企业来说更强大。我们将石油进口国的领导层变动作为对政治关系的外生冲击，表明这种关系是因果关系。然而，俄罗斯石油出口公司的总出口收入并未受到太大影响，因为它们似乎能够通过增加在其他市场的销售来弥补在一个市场遭受的损失。同时，