Russian gas giant Gazprom plunged to a loss of Rbs629 billion in 2023, an almost 50 per cent reversal of the Rbs1.2 trillion profit it reported in 2022, as revenues from gas sales more than halved.The results reflect the EU’s greater than expected success in finding alternative sources of gas and Gazprom’s failure to make up for the loss of the EU market, despite attempts by Russian authorities to paint a rosy picture to the contrary.
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