Gazprom reported a nine-month loss of 309 billion roubles ($3.2 billion) under Russian accounting standards, a significant downturn from a profit of 446 billion roubles in the same period of 2023. The company, which has faced its first losses since 1999, attributed the decline to a sharp decrease in exports to Europe resulting from the geopolitical tensions over the invasion of Ukraine. Despite the losses, Gazprom’s revenue for the January to September period increased by 8% to 4.3 trillion roubles compared to the previous year. The reasons for the losses were not specified.

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