Gazprom is a national champion, a concept advocated by Putin, in which large companies in strategic sectors are expected not only to seek profit, but also to advance Russia's national interests. For example, Gazprom sells gas to its domestic market at a price less than that of the global market. [ 21 ]

Mar 18, 2025 · Gazprom, Russia's largest energy corporation, lost more than $12 billion in 2024, according to Reuters. Newsweek reached out to the Russian Foreign Ministry for comment via email outside normal...

Jun 14, 2024 · Russian energy giant Gazprom is struggling to find new markets for its natural gas after the disappearance of much of the European market.

Jan 14, 2025 · Russia's energy sector has suffered a series of recent setbacks that have hurt the exports critical for funding Vladimir Putin 's invasion of Ukraine. U.S.-led sanctions on Russian oil have...

Mar 13, 2025 · Putin's long-term promise to replace Europe's markets with exports to China look optimistic at best.

May 15, 2024 · Gazprom’s losses demonstrate the extent to which the Kremlin’s decision to turn off the gas tap to Europe in 2022 has backfired.

Oct 16, 2022 · Vladimir Putin's invasion of Ukraine has created an unexpected victim — Gazprom. The Russian gas export monopoly has seen its share of the European market shrivel from 40 percent to only 9 percent while its two Nord Stream pipelines built at a cost of over €20 billion lie holed on the bottom of the Baltic.

Jan 6, 2025 · (Bloomberg) -- Vladimir Putin might have lost a slice of revenue after Kyiv closed its gas pipeline to Russian supplies, but Moscow already has alternatives for shipping the fuel that stand to shield it from any serious economic hit.

Dec 6, 2024 · Under a decree signed by Putin on Thursday, foreign buyers will now be able to use other banks to pay for Russian gas. The decree notes that gas payments will no longer be required via...

Apr 24, 2023 · Soon after becoming president of Russia more than 20 years ago, Vladimir Putin began to use state-owned gas giant Gazprom for political ends. Since then, the enormous company has gradually...