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Chronicle of world’s economic war world against Russia: Gazprom's European exports drop by 27%

Gazprom's exports dropped by 27%

Gazprom's exports dropped by 27%

After attacking Ukraine, Russia has faced economic problems and sanctions from a lot of countries and international organizations. In the Russian Federation itself, the authorities call it an economic war. The Page has prepared a compilation of the latest posts about this as of May 2.

Economy

Gazprom reports on gas production and supplies as for January—April:

  • the company produced 175.4 billion cubic meters of gas, which is 2.5% less than last year;
  • supplies to the domestic market decreased by 3.7%. One of the reasons for this is the warm weather in February;
  • exports to non-CIS countries amounted to 50.1 billion cubic meters, which is 26.9% less in annual terms. The company notes that they continue supplies in "full compliance with contractual obligations";
  • gas exports to China increased by almost 60% compared to last year.

The Finnish company Fennovoima terminates the contract with Rosatom for the construction of the Hanhikivi-1 NPP.

India's Tata Steel, one of the world's top 10 steel producers, has stopped buying Russian coal. The reasons are the sanctions that make the work with suppliers and banks from Russia challenging.

Corteva, a major U.S. agricultural chemicals and seed company, has decided to leave Russia. It is drafting a plan to halt production and business activities and has previously suspended new sales.

The bailiffs decided to forcibly recover from Google an unpaid fine in the amount of 7.2 billion rubles. The company was penalized in December for refusing to remove information banned in Russia.

Bureau Veritas, the French inspection and certification company, the second largest in the global certification services market, has cut down its business in the Russian Federation in its main sectors: shipbuilding, aeronautics, and commodities.

Putin signed a decree banning government agencies, state-owned companies, and strategic enterprises from using information security tools produced in "unfriendly" countries from 2025. The agencies and companies are obliged to provide "unhindered access" to the resources used for FSB officers.

In March, Russians withdrew almost $10 billion of foreign currency from banks, the Central Bank reports.

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AmRest Holdings, one of the largest European operators of coffee shops and fast food restaurants, has suspended operations on the Russian market. The company manages a chain of 2,200 restaurants, including KFC, Pizza Hut, Burger King, and Starbucks franchises.

The Finnish company Aspo has decided to waive the operations of its Leipurin enterprise in the Russian Federation, Belarus, and Kazakhstan. Companies from the bakery, dairy, and meat industries, as well as manufacturers of semi-finished and ready meals, work with Leipurin.

Sanctions

The European Union may impose a ban on the import of Russian oil by the end of 2022, and before that it will gradually limit supplies. In addition, the EU may include restrictions on purchasing real estate and the work of cloud services in the sixth package of sanctions against Russia.

German Foreign Minister Annalena Baerbock said that a cessation of hostilities is not enough to lift sanctions against Russia. The restrictions can only be lifted if Russia withdraws its troops from the territory of Ukraine.

New Zealand imposed sanctions against 170 senators and 6 enterprises of the Russian Federation.

Society

Russia was not allowed to participate in the UNESCO event dedicated to World Press Freedom Day.

Residents of Moscow are hesitant to rent summer cottages because of uncertainty about the future. The season of suburban rent this year is strongly delayed — usually the search for houses begins in February — March.

Realtors have begun selling the Russians' mansions in London at big discounts. Their owners want to exchange property in Europe for housing in Dubai, Financial Times reports.

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