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Sharp decline in Gazprom's net profit

World News

30-08-2023 | 03:43

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Sharp decline in Gazprom's net profit

The Russian gas giant company Gazprom announced that its net profits for the first half of 2023 had declined to $3.1 billion, as Europe moved away from Russian energy resources due to the conflict in Ukraine.

After Russian President Vladimir Putin ordered his army to invade Ukraine last year, European countries that heavily relied on imports of Russian natural gas raced to find alternative sources for their supply.

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