Gazprom's currency reserves have fallen by more than 98% in a year – Ukrainian officials

The Center for Countering Disinformation under the National Security and Defense Council of Ukraine reported this on Telegram, Ukrinform reports.

“The foreign exchange reserves of the central office of PJSC Gazprom, the main exporter of pipeline gas from Russia, fell from USD 862 million to USD 13.5 million in 2024, which is a decrease of 98.5%. Over the year, the company's overall financial cushion also decreased by approximately USD 650 million. And this is only the data of the parent company of the Gazprom Group, since the report does not include information on the state of its subsidiaries,” the report says.

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It is stated that sanctions are the main reason for the deterioration of financial results, as well as the reduction of gas supplies to European countries, which used to be the main market for Gazprom. Due to huge military expenditures, the government is no longer able to support the company.

The Center for Countering Disinformation noted that the problems of Russian gas companies are not their internal affair, but indicate a growing crisis in the Russian economy, where Gazprom is one of the largest and most strategically important participants.

As reported by Ukrinform, in 2024, Russia's Gazprom registered a net loss of 1.076 trillion rubles (12.89 billion US dollars) under Russian accounting standards.