Arab Today, arab today gazprom net profits drop sevenfold in 2014 on ruble ukraine
Last Updated : GMT 18:22:38
Arab Today, arab today
Arab Today, arab today

Gazprom net profits drop sevenfold in 2014 on ruble, Ukraine

Arab Today, arab today

Arab Today, arab today Gazprom net profits drop sevenfold in 2014 on ruble, Ukraine

Barclays bank
Moscow - AFP

Russia's gas giant Gazprom on Wednesday reported its net profits in 2014 plunged sevenfold over the previous year, weighed down by economic sanctions and the devaluation of the ruble.

The company -- which was the most profitable in the world just a few years ago -- reported 159 billion rubles in net profits last year ($3 billion, 2.8 billion euros) compared to 1.14 trillion rubles ($21.8 billion, 20 billion euros at the current exchange rate) in 2013, according to Gazprom's annual report published Wednesday.

 

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