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A good move IMO.

News Feed, Gazprom, Russia, Russian oil industry, Sanctions, Business

Russia's Gazprom net losses nearly double year on year

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by The Kyiv Independent news desk

"Russian gas giant Gazprom suffered net losses from January to June 2024 almost double those in the same period last year, the Ukrainian media outlet enkorr reported on July 31.

Losses in the first half of 2024 totalled 480.64 billion rubles ($5.5 billion), while those in the first half of 2023 totalled 255 billion rubles ($2.95 billion), according to Gazprom financial statements seen by the outlet.

Gazprom has had a turbulent time since the launch of Russia's full-scale invasion – its revenue fell by 30% last year with a net loss of $6.9 billion, the largest in 25 years.

Moscow's war in Ukraine led to worsening relations with Europe, limiting the operations of the company."

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