Gazprom's board is proposing that about 1,600 managers and administrators be cut from its headquarters at St. Petersburg, citing recent challenges.

Russia has long used its plentiful energy resources as a tool to exert control over the region, where independence from Russian energy is tied to political sovereignty.

Gazprom is considering cutting about 40% of its headquarters staff - more than 1,500 job cuts - as the Russian gas giant grapples with the loss of most of its sales to Europe, state news agency TASS reported on Monday.

The Kremlin said on Thursday that Russia was ready to provide gas to Moldova's breakaway Transdniestria region, but needed logistical support from Moldova to make that happen.

Days before President Biden leaves the White House, the U.S. government has delivered a major blow against Russia. On January 10, 2025, the

In the run-up to his departure from the White House, President Joe Biden has slapped a number of major new sanctions on Russia’s financial systems and energy sector. The U.S. originally threatened Russia with “the mother of all sanctions” as Moscow prepared to invade Ukraine in February 2022.

Liquefied natural gas (LNG) from Russia to the European Union may be phased out by Brussels, according to Bloomberg.

Russian energy giant Gazprom plans to cut staff numbers at its central office in St. Petersburg, a company spokesperson said on Monday, as the company faces severe headwinds from the loss of its markets in Europe.

Gazprom provided about 7 percent of Russia's federal budget in 2021, the year before Putin's full-scale invasion. By 2023, it was estimated to provide about half of that as sanctions, reduced production and historic losses hit the sector. Large-scale layoffs could add to the pressure on Russia's key revenue generator for the war.

In an effort to reduce Russian energy revenues being used to fund the war against Ukraine, on January 10, 2025, the United States Department of

Gazprom's press service did not respond to a request for comment sent outside regular business hours by Business Insider. Russia had for years been a major supplier of natural gas to the European ...

A letter from a member of Gazprom's board sent a letter to CEO ... headquarters.ALEXANDRE ZHOLOBOV/POOL/AFP via Getty Images Russia's state-owned gas giant is mulling a sweeping cut to its ...