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Inflation accelerated to 9.5% last year, from 7.4% in 2023. Some supermarkets locked butter in cabinets to prevent thefts. Although wages are up, this reflects problems in the labor market.
To recover lost revenue, Russia increased the tax on Gazprom in 2022 reducing Gazprom's profit to 1.226 trillion roubles ($15.77 billion), Gazprom paid a dividend of 1.2 trillion roubles ($15 billion) in 2022. [21] In July 2023 Gazprom threatened to stop all natural gas exports through Ukraine unless Ukraine ceases court action against Gazprom.
In the second half of 2022 and into 2023 Gazprom probably did not make a profit at all as a result of falling exports. [179] Overall Gazprom made a profit of 1.226 trillion roubles ($15.77 billion) in 2022, down 40%, after an extra tax was levied in late 2022. [180]
Joint Stock Company Gazprom Promgaz ... In 2023 the company's profit is 166 344 000 rubles, the revenue in 2023— 2 547 959 000 rubles. ... a non-profit organization ...
In this context, a loss of £4.14bn in gas sales without the Ukraine transit deal could trigger a further 6.7 per cent decrease in revenues for Gazprom and Russia. The Russian oil and gas war chest
The state-owned Russian energy firm earned £39m from its Dutch-UK gas field in 2022, accounts show.
However Gazprom was exempt from the rise; this resulted in February 2023 in complaints from Novatek. [ 44 ] Novatek's Yamal LNG does not benefit from the elevated tax exemption, but has a tax break with a 13.5% tax rate for 12 years or until production reached 250bcm [ 44 ] and is also exempt from export taxes and mining taxes for nine years.
The effect of sanctions, especially the price caps on both crude oil and processed oil which came into effect in late 2022, early 2023 resulted in an immediate fall in Russia's oil revenues with Q1 of 2023 recording income of just $19.61 billion, far below the 2023 budget of $35 billion per quarter and the 2022 results which averaged $42 ...