Gazprom became unprofitable over russia’s war against Ukraine and sell off its property

So, who said that international sanctions do not work? 

Gazprom is starting to sell off its property! Due to a record loss in its history, Gazprom is starting to seel off its propertyand has announced the search for buyers for large real estate properties in Moscow and the Moscow suburbs. Among them are office buildings on Stroiteley Street, the huge sanatorium-resort complex “Imperial Park Hotel & SPA” in the villages of Pervomaiskoye and Rogozine, non-residential premises on the first floor of a building on Novocheremushkinskaya Street, as well as a parking lot for 96 vehicles near the company’s head office in Moscow. 

Last year, Gazprom had a net loss of 629 billion rubles. The gas monster, which operated the largest gas reserves on the planet, became unprofitable, and Gazprom’s debt reached a record 6.65 trillion rubles. 

Having restricted gas flows to most European countries in an unsuccessful attempt to achieve concessions on Ukraine, the Kremlin deprived Gazprom of a major sales market with which ties had been built for almost half a century. Gas supplies to Europe fell to 28 billion cubic meters — the level of the second half of the 1970s. And Gazprom’s production amounted to only 404 billion cubic meters of gas and turned out to be minimal for all 34 years of the company’s existence.

Ukraine Front Lines

Tags: Gazprom Russia russia ukraine war sanctions