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Russia's gas production collapses to late-stage USSR levels
(www.newsweek.com)
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this post was submitted on 03 Oct 2023
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This is the best summary I could come up with:
Since Vladimir Putin's full-scale invasion of Ukraine started on February 24, 2022, sanctions have sought to isolate Russia from the global economy, cutting it off from the SWIFT international banking system and freezing some of its foreign exchange reserves.
The Gazprom report said that the West had contributed to the decrease of the fuel and added that "the adoption in a number of countries of politically motivated decisions aimed at abandoning the import of Russian gas."
Independent Russian-language news outlet Agentstvo reported that Gazprom "has never had such a low production rate in its entire history" and that "the last time there was similar figure was in the Soviet Union in 1978," a year when 372.1 bcm were produced.
In February 2023, Putin accused the West of direct attempts to try to hinder and restrain Russia's gas industry but added that Gazprom "is moving forward and launching new projects."
Thomas O'Donnell, a Berlin-based geopolitical analyst, told Newsweek that Putin had cut gas flows, even before the attack in September 2022 on the Nord Stream pipelines between Russia and Germany—an act of sabotage that the Kremlin denies responsibility for and which is still being investigated.
Gazprom head Alexei Miller will join Putin during the Russian president's visit next month to China to boost trade ties and offset losses of gas sales from the lucrative European market, Reuters reported.
The original article contains 622 words, the summary contains 227 words. Saved 64%. I'm a bot and I'm open source!