Achieving technological sovereignty implies accelerating innovation and reducing import dependence. An effective tool for addressing these challenges is local content policy (LCP). The purpose of this study is to assess the impact of LCP on innovation activity in oil and gas companies and to provide recommendations for enhancing the effectiveness of this policy in Russia. The paper analyzes the influence of LCP on innovation levels in the oil and gas sector, drawing on examples from 10 countries. A positive short-term impact of LCP on innovation was identified in Brazil, Malaysia, and Saudi Arabia, with long-term effects observed in China and South Africa. Recommendations for improving the effectiveness of LCP in Russia are supplemented with a methodology for calculating the level of technological sovereignty. A refinement of the method for solving the «responsiveness» problem, incorporating the level of localization, has been proposed.