Russia's energy giant Gazprom stock tumbles to its lowest level in 17 years
Photo: Gazprom headquarters building (Getty Images)
Record slump in Gazprom shares
Gazprom shares fell to 91.55 rubles during trading on Tuesday, their lowest level since November 2008.
A day earlier, the company's stock had dropped below 95 rubles for the first time since the global financial crisis.
As of 5:25 p.m. Kyiv time, shares of Russia's energy giant had recovered slightly and were trading at 92.11 rubles.
Gazprom's market capitalization has shrunk to approximately 2.22 trillion rubles.
Shares of Gazprom Neft also fell by nearly 2%, hitting their lowest level since October 2022.
Gazprom continues to lose value
On June 23, shares of Russia's energy giant Gazprom fell below 100 rubles for the first time since 2009. According to data from the Moscow Exchange, they were trading at 99.9 rubles.
Following a large-scale Ukrainian drone attack on Moscow on June 18, the Russian stock market plunged. Shares of Gazprom, Rosneft, and Lukoil posted sharp losses.
Meanwhile, Ukraine's Naftogaz has secured a final court victory against Gazprom. The Russian gas giant is now required to pay outstanding debts related to gas transit arrangement services, along with interest and legal costs.
