Winnning!
Posted on 06/30/2022 8:22:28 AM PDT by marcusmaximus
Russia’s energy giant Gazprom on Thursday lost more than a quarter of its market value after the state-owned company decided not to pay out dividends.
“The shareholders have resolved that in the current situation it is not opportune to pay out dividends based on the results of 2021,” Famil Sadygov, deputy chairman of Gazprom, said in a statement.
“At the moment, Gazprom prioritizes the implementation of its investment program, including gas infrastructure expansion in the regions of the Russian Federation, and the preparations for the coming winter period. In addition, we undoubtedly must be ready to meet our obligations to pay increased taxes.”
The decision, which marks the first time since 1998 that the company has not paid a dividend, reportedly reversed a board recommendation to pay a dividend of 52.53 rubles ($1) per share.
Gazprom’s stock price tumbled 27% before Moscow’s stock exchange intervened to halt trading.
(Excerpt) Read more at cnbc.com ...
Winnning!
Selling oil to China and India at a 30% discount with an artificially inflated ruble will do that to you. LOL!
LOL Russia...WINNING!!!!
Thanks to the Stronk Ruble + the 30% discount to China and India, selling oil is no longer profitable for Putin. Too damn funny!
Putin is royally screwed if he doesn’t massively deflate the ruble as soon as possible. Consequences!
This economic data from Russia puts the lie to the strong Russian ruble. It simply has not made sense to claim that the ruble is so strong when it cannot be traded on the Western markets.
And now we see evidence of the Russian economic decline.
China is laughing at Putin right now.
It’s nice of them to share their crater.
“it is not opportune to pay out dividends based on the results of 2021”
Everyone will be sure to believe that one. Nothing happened this year of any significance...
Putin is now losing money on EVERY barrel of oil he’s selling to China and India thanks to the 30% discount and the artificially inflated ruble. To fix this, he needs to make China and India pay full price or devalue the ruble by at least 30% or more.
You mean selling Russian resources for money that can’t be spent anywhere else isn’t sound economic policy?
Whodathunk?
Russians have never been good at that whole economics thing.
“Putin is now losing money on EVERY barrel of oil he’s selling to China and India”
Russia may be, but Putin no doubt still gets his cut. Who will tell him no?
That disparity of interests, is just what led the old Soviet Union to run factories that not only lost money, but made products that were actually worth less than the raw materials that went into them. The gangsters and corrupt officials (but I repeat myself) want to keep their skim going.
When we get to the next oil/gas price crash, the implosion of Russian living standards will be visible from outer space - unless they have a new leader who distances Russia from this aggression in the Ukraine.
Well, the Muscovites for sure. The Novgorodian Rus were doing pretty well as a merchant republic though, until the Muscovites crushed them and took over.
Everything is fine.
https://twitter.com/jakluge/status/1542220132856090624
Of course, these are just the “official” stats.
What is your economic background?
Why exactly Russia needs to deflate the currency? What products with high added value in what volume it needs to make more competitive abroad?
When ruble was trading in high volumes on foreign markets?
What’s unnatural in a current exchange rate? It is naturally dictated by the record high Russian trade balance and zero demand for foreign currency inside Russia. They can buy for rubles in China and Inda and there is not much trade with Eurozone anymore. That is free market at work.
Gasprom. Dividend cancelled. LOL!
And your point is? They need money to divert energy to the East and expand domestic consumption .
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