Gazprom shares drop to nearly US$1 amid rouble depreciation
Wednesday, 27 November 2024, 12:56
The weakening rouble has nearly driven the value of Gazprom shares down to US$1 per share.
Source: Investing.com
Details: In rouble terms, the shares of Russia's gas giant are approaching historic lows amid a general decline in the Russian market, as trading data indicates.
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At its peak, a single Gazprom share was worth US$8.5, eight times higher than its current value.
Background:
- Russian gas monopoly Gazprom is planning for 2025 with the assumption that gas transit to Europe via Ukraine will cease after 31 December 2024.
- As of 27 November, the exchange rate of the RUB to the USD stands at approximately RUB 109.
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