Gazprom’s profits are dropping down
The company that exports the Russian gas has warned the European countries that imposition of further sanctions against Russia can cause reduction in gas shipments from the Russian Federation.
The extension of sanctions being imposed by America, the European Union and other countries, can have a negative impact on functioning and financial position of Gazprom. Today, Russian gas exports equal around 30% of the Europe’s gas, the BBC news reports.
Gazprom has released its statement on sanctions after Ukraine announced it would file a lawsuit to court against the rise in gas prices. Russia has actually doubled the gas prices for Ukraine after President of Ukraine Viktor Yanukovych was overthrown in February 2014.
Gazprom has already threatened to cut the gas supplies to Ukraine due to outstanding debt exceeding $2million. Besides, Russia has promised to demand advance payments for gas supplies.
According to the figures reported in 2013, the Gazprom’s profit dropped by 7%. The depreciation of national currency value, the Russian rouble, entailed reduction in profits.
