Russian energy giant Gazprom said on May 2 it suffered a record annual loss last year as the European market was practically shut off to its gas exports due to sanctions over Moscow's military operation in Ukraine. The state-owned firm suffered a net loss of 629 billion rubles ($6.9 billion) in 2023 compared to a net profit of 1.23 trillion rubles in 2022. The results are an indication of the heavy impact of Western sanctions on Russia following the full-scale military offensive launched in February 2022.
Editors' Picks
RFE/RL has been declared an "undesirable organization" by the Russian government.
If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.
To find out more, click here.