Gazprom slumps to first annual loss in 22 years as trade with Europe hit
Gazprom slumps to first annual loss in 22 years as trade with Europe hit
£5.5bn loss in 2023 comes after gas sales more than halved following Russia’s invasion of Ukraine
Profits were expected to be halved from the 2022 1.2 tn Rubles, but instead they made a loss in 2023 of 629bn Rubles or £5.5bn.
I cannot imagine that having drones guided by US intelligence blowing up all your refineries and oil depots is good for business.
Most people don't run a prospering cafe if someone throws an incendiary device into the walk-in freezer once or twice a week.
Absolutely, but Ukraine hadn't really begun to do that for fiscal year 2023. So this year will be even worse.
You have to keep in mind that the decline in profits is mainly from selling fossil gas, that is the gas not liquid, to the EU. Blowing up oil infrastructure is a new thing.
Quite sure Ukraine started doing this without US. They began doing it while the us was unable to give aid.
So I'm quite sure this is something us didn't want Ukraine to do, but when there was no aid, Ukraine did what they wanted to do.
I'm just glad they did this, and they should continue 🚀
Material aid != Intelligence and coordination
For the last 6 months the US hasn't been able to give weapons, but there's nothing stopping us from lending satellite and human intelligence to the targeting effort, and giving strategic recommendations based on centuries of experience of being continuously at war. It would be weird if that all didn't produce a positive impact on how effectively Ukraine can fight the strategic war.
In terms of fighting courage and tactical knowledge they've been doing it all on their own, yes, and I'm sure they're better than the US at this point which is saying quite a bit. But I think on things like where to bomb the refineries, the US already has lots of footnoted maps and diagrams drawn up that saved some time and increased the impact.
(And the happy synergy of "Hey you know what would help this war effort? If you did a bunch of long term damage to Russia's economy in ways they can't sanction-dodge their way around" "Hey that's a really good point" is a fun thing from the US's perspective, I'm sure.)
Russia’s gas exports to Europe, once its primary export market, have slumped because of the political fallout from the conflict in Ukraine, while Gazprom, which has a monopoly on piping gas abroad, has been the most tangible victim of western sanctions.
Ha Putin, you bet the sanctions work! Remember this is how bad it was in 2023, this year will probably be way worse after Ukraine has also begun to take out depots and refineries. Rumors are that Russia is beginning to lack oil to service both their population and the war!
The oil industry is by far the biggest earner for Russia, so Gazprom posting such a bad result can only mean the Russian economy is feeling some real hurt from the sanctions.Yips, it will get worse for Ruzz for sure.
"Worst year so far!"
My mind is short circuiting when trying to read that sign.
Gгазпром
I know. I sat there for a moment thinking what's that Cyrillic g in front of the G?! Why wouldn't that be their logo... whatever, I hear they're going under anyway.
