Gazprom shares plummet to almost $1: what does the ruble have to do with it

It is noted that the annual decline in the market was estimated at almost 30%.

Shares of the Russian gas giant Gazprom fell to a historic low on November 27. It is noted that this situation arose due to the rapid depreciation of the Russian ruble .

According to Trading Economics , one share of the company fell to almost $1 or 115.66 rubles.

Gazprom securities fell by 7.62% over the month. While the annual decline on the market was estimated at almost 30%.

According to forecasts, shares of the largest corporation in the Russian Federation in the fourth quarter should have cost more than 130 rubles per share. At the peak, one share of the gas monopoly cost eight times more – $8.5.

The Russian national currency has been depreciating for the third day in a row. At the moment, the rate is 113.25 rubles per dollar.

Gazprom shares plummet to almost $1: what does the ruble have to do with it?

Gazprom’s problems – latest news

Russia’s gas giant reported its first annual net loss since 1999 due to reduced supplies to Europe and falling fuel prices.

Having suffered its first loss in 25 years and a record loss in its entire history, Gazprom is starting to sell off its assets .

In addition, from January 1, 2025, the transit of Russian gas through Ukraine to Europe will stop. Experts say that Gazprom will lose about 6 billion dollars in annual revenue, and Ukraine – from 800 million to 1.2 billion.