In conditions when against the Russian Federation economic sanctions are imposed, it is especially important to intensify work on attraction of investments and counteraction to outflow of the capital from the country. The energy industry as the turbulent situation with presence of such giants as Exxon Mobil Corporation in Russia showed, the unprecedented contract with the Chinese party on construction of the Force of Siberia gas pipeline, cooperation with French "Total", remains to one of the most investment and attractive branches of economy cooperation in which has strategic and long-term character. In present difficult conditions for realization of policy of attraction and deduction of investments into the Russian energy industry it is obviously necessary to pay attention, first of all, to effective use of instruments of state regulation. Considering strategic character of energy industry for Russia and importance of high efficiency, the attracted investments for domestic economy, it is necessary to provide as it was told above, balance of interests of the state and the attracted investors. Increase of efficiency of state regulation of foreign investment and investment activity in energy industry has to consider two macroeconomic conditions. In - the first, this creation of the friendly environment for the investor who came to fuel and raw sector of a national economy of the country guaranteeing protection of interests and minimizing risks of the investor. Secondly, it is necessary to displace emphasis on investment into adjacent sectors of energy industry. It is reached by interindustry transfer of investments (capital) on the enterprises occupied with profound processing of initial natural raw materials on the one hand and also in productions which provide organizational and technical, logistic and material deliveries of products for fuel and raw spheres on the other hand. The country with economies in transition accepting foreign investments is faced by an important task to define an optimum ratio of the foreign and national capital which will allow to accelerate its development and to avoid negative consequences of foreign investment. Need to control inflow of the foreign capital to the country is obvious, and for effective management of economy it is necessary to improve important legislative base, to create system of monitoring of direct foreign investments in which the branch and regional orientation of direct foreign investments has to be analyzed. Performance and observance of these conditions will demand a complex of regulatory measures, development and which acceptance depends on harmonious cooperation and actions of the external economic, antimonopoly and tax administration of the Russian state.