Gazprom takes steps to mitigate possible Western sanctions
Western sanctions haven’t targeted Russia’s gas champion – yet. But other forces are bearing down on the company
During talks in Warsaw between the EU, Russia and Ukraine on 2 May, Gazprom’s decision to raise the price that Kiev pays for its gas to $485 per 1,000 cubic metres (’000 cm) from $268.50/’000 cm, Russian energy minister Alexander Novak said: “If we don’t receive pre-payment for June by 31 May, then it is possible Gazprom will reduce gas supplies to Ukraine.” Gazprom claims that by the end of May Ukraine will owe it almost $3.5 billion – an amount Russian President Vladimir Putin said 17 April must be paid in full within weeks. “Gazprom is set to introduce prepayment for gas to Ukraine. This means that the gas supplies to Ukraine could theoretically be stopped in June,” says Dmitry Loukash
Also in this section
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector
