Gazprom Losses Doubled Amid Sanctions Against LNG Pipes - UATV English

[TexasTowelie]

Gazprom, Russia's gas monopoly, reported a net loss of over 480 billion rubles in the first half of 2024, nearly double the loss from the same period in 2023. The company faces a sharp reduction in gas supplies to the EU and increased financial burdens. EU sanctions on LNG transshipment and restrictions on new investments further strain Gazprom's revenues. Finance ministers from eight EU countries call for heightened sanctions to pressure the Kremlin. Despite efforts to pivot to China and Iran, experts believe Russia will continue to struggle to offset its European market losses.