Gazprom is arguably the Russian business hardest hit by the international sanctions imposed after Russia’s full-scale invasion of Ukraine three years ago. Although Russia’s economy has been resilient, growing signs of strain have appeared in several industries. Reuters has previously reported that President Vladimir Putin is concerned as heavy military spending distorts the wider economy.
The number of staff at Gazprom Export, once the most prosperous unit of the company, overseeing Soviet and Russia’s gas sales to Europe for over half a century, has shrunk to just a few dozen employees.
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That’s down from 600 employees five years ago, at the peak of Russian exports to Europe. The possible sale of the building and cuts at the unit have not been previously reported.
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Gazprom is not that hard hit by sanctions. They are still allowed to sell gas to the EU, but choose not to.
Still great news. Gazprom having trouble means less money for the war and is great news for the climate as well.