Gazprom sees worst loss in decades as European exports falter | Euronews

Gazprom, the Russian energy giant majority owned by the Kremlin has recently revealed the worst loss in more than 20 years, of 629 billion roubles (€6.38 billion) in 2023. This was much worse than the 447 billion roubles loss expected by the market, according to the Interfax news agency. It was also sharply at odds with the 1.2 trillion roubles profit seen in 2022.

Furthermore, the company clocked in a sales net loss of 364 billion roubles in 2023, also a disappointment from the 1.9 trillion roubles profit seen in the previous year. Total revenue also dropped to 8.5 trillion roubles in 2023, a slide from the 11.7 trillion seen in the previous year.

These disappointing figures were mostly due to Gazprom’s European exports falling significantly, as a result of Europe’s continuing sanctions on both Gazprom, and several of its individual employees because of the Russia-Ukraine war.

🇺🇦@ukraine_report 🇺🇦🔱 Liz
https://www.euronews.com/business/2024/05/03/gazprom-sees-worst-loss-in-decades-as-european-exports-falter