The loss of a key European market has dealt a severe financial blow to Russian energy giant Gazprom, resulting in net losses of 1.076 trillion rubles ($13.1 billion) in 2024

The downturn has forced Gazprom to implement cost-cutting measures, including mass layoffs. On Jan. 13, Russian media outlet 47News reported that the company was preparing to lay off 1,600 employees from its central office.

    • Valmond@lemmy.world
      1·
      4 days ago

      Lot of it is in the arctic/very harsh climate and needed europe / us expertise to get extracted. That expertise is gone now.

      Ukraine has shut down refining plants, and also the sanctions has worked.

      And of course the eu buys less.

      • psud@aussie.zoneEnglish
        1·
        3 days ago

        They want it, they have just restricted their ability to buy it. Also, didn’t Ukraine blows up the pipeline, meaning the gas has to be moved by ship

    • JohnDClay@sh.itjust.works
      0·
      4 days ago

      Ukraine helped. Also, they’re taxed at almost exactly their profit to maximize state revenue. It’s not quite state owned, but it’s close.

      • Zetta@mander.xyz
        1·
        4 days ago

        Plus, I’m sure a ton of corruption, stealing money directly from within the company.