Russia: Gazprom announces 41% profit fall

Source: ABC News

“Gazprom, the state-owned natural gas company that is a pillar of Russia’s economy, announced Tuesday that its profit for 2022 plunged by more than 40% and said it wouldn’t pay a full-year dividend. … The company cited a windfall imposed last year to boost the government’s coffers as the reason for the decline. But Gazprom also has lost most of its European customers amid the conflict in Ukraine and has tried to bolster its export business with increased supplies to China and other markets.” (05/23/23)