Why Gazprom Is Suffering Catastrophic Losses
russia’s state gas monopoly “gazprom,” long used by the kremlin as a tool of geopolitical influence, continues to suffer major losses.
Due to the loss of the European market, gazprom posted a net loss of 1.08 trillion rubles ($12.83 billion) last year. Over the next 10 years, the russian gas giant is forecasting nearly $179 billion in losses.
Earlier, the Center reported that by the end of 2024, the foreign currency reserves of Gazprom’s main office had plummeted by 98.5%.
gazprom remains one of the key sources of income for the russian state budget. To offset the company’s losses, the regime is raising gas prices for both households and businesses. As a result, ordinary russians are now forced to cover the budget gap out of their own pockets—more than 40% of which goes toward financing the war against Ukraine.
