ARTICLE
Losses of Russian energy giant Gazprom almost doubled
Economichna Pravda
Wednesday, 31 July 2024, 11:57
https://www.pravda.com.ua/eng/news/2024/07/31/7468245/
The net loss of the Russian energy giant Gazprom under Russian Accounting Standards (RAS) totalled RUB 480.64 billion (roughly US$5.5 billion) in the first half of 2024 after RUB 255 billion (roughly US$2.95 billion) of losses in January-June 2023.
SOURCE: enkorr, a Ukrainian energy-related news outlet, citing the company’s financial statements
DETAILS:
Gazprom calculates dividends from the group’s consolidated profit in accordance with International Financial Reporting Standards (IFRS), which, in addition to the gas business, also includes oil, power and liquefied natural gas divisions.
The dividend policy envisages adjustments to the dividend base for non-cash items.
The rise in losses for the Russian gas monopoly is primarily due to reduced gas supplies to Europe, while the company’s operating costs remain high.
BACKGROUND:
In 2023, natural gas supplies to Europe by the Russian energy giant Gazprom decreased by 55.6% to 28.3 billion cubic metres.
The net loss of the Russian energy giant Gazprom under Russian Accounting Standards (RAS) totalled RUB 480.64 billion (roughly US$5.5 billion) in the first half of 2024 after RUB 255 billion (roughly US$2.95 billion) of losses in January-June 2023.
Source: enkorr, a Ukrainian energy-related news outlet, citing the company’s financial statements
Details: Gazprom calculates dividends from the group’s consolidated profit in accordance with International Financial Reporting Standards (IFRS), which, in addition to the gas business, also includes oil, power and liquefied natural gas divisions.
The dividend policy envisages adjustments to the dividend base for non-cash items.
The rise in losses for the Russian gas monopoly is primarily due to reduced gas supplies to Europe, while the company’s operating costs remain high.
Background: In 2023, natural gas supplies to Europe by the Russian energy giant Gazprom decreased by 55.6% to 28.3 billion cubic metres.
ARTICLE
“Shameless Vladimir Putin forced to take drastic measure to boost ‘outdated’ Russian Army
Vladimir Putin has issued a new decree that allows Russian designers to access and use foreign intellectual property without the need to request permission.”
By Aurora Bosotti
09:02, Tue, Jul 30, 2024 | UPDATED: 09:02, Tue, Jul 30, 2024
https://www.express.co.uk/news/world/1929650/vladimir-putin-russia-army-ukraine-war-latest?int_source=nba
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Shameless Vladimir Putin forced to take drastic measure to boost ‘outdated’ Russian Army
Vladimir Putin has issued a new decree that allows Russian designers to access and use foreign intellectual property without the need to request permission.
By Aurora Bosotti
09:02, Tue, Jul 30, 2024 | UPDATED: 09:02, Tue, Jul 30, 2024
Putin authorised Russia’s designers to use foreign patents without having to ask the holder (Image: Getty)
Vladimir Putin inadvertently confirmed to the world that the Russian Army is “outdated” as he effectively legalised espionage in his latest desperate and shameless measure.
The Russian president this week signed a new degree that authorises Russia’s chief designers to use foreign intellectual property without the holder’s permission.
The act allows the designers to integrate foreign technology, equipment and software to develop new weapons without having to follow licensing protocols.
Expert Denis Grekov argued the move is a de facto acknowledgement that Russia is relying on outdated technology that requires foreign input for updates and upgrades.
The political scientist told The Media Line: “It is a very candid statement that demonstrates Russia’s extremely backward position in technology.
“This is evident anyway. Russia has some rather interesting weapon samples, which, nevertheless, still can hardly compete.”
Mr Grekov added: “The war with Ukraine, which Putin started, shows this very well. The Russian Army cannot boast serious successes.
“The only relatively decent thing they have is missile weapons and electronic warfare complexes. But, apparently, they cannot properly produce them without Western companies.”
He also noted Russia never became technologically independent after the fall of the USSR and the swathe of sanctions triggered by the invasion of Ukraine have only further hindered Moscow’s attempts to develop a modern military sector.
He said: “Russia is going to steal technologies from Western countries – the USA and some European countries.
“For Russia, it is now crucial to achieve technological advancements in various fields: aviation, electronic warfare systems, various electronics, as well as missiles and ammunition.
“Essentially, everything where Western models have some advantage, which is more or less almost everywhere. I think the current priorities are fifth-generation fighters or stealth bombers, such as the F-35 and F-22.”
Military expert David Sharp noted the move falls in line with Putin’s attempts to continue his ongoing invasion of Ukraine despite the significant losses Russia suffered.
Mr Sharp said: “Putin has openly stated that all efforts must be directed toward ensuring the military operation, as he put it, is successful.
“If this requires acting demonstratively so that no one thinks about any patents, then why not?”