For those who don't know.....Gazprom is the Russian company that pumps oil/natural gas, and probably is the bulk of the reason why Russia had it's significant GDP for the past forty-odd years.
2023? Record loss. Loss of 6.4-billion Euro for the year.
Reason? It goes to two problems.....Europe quit buying their natural gas/oil, and the crew that helped to make 'pumping' work (from the ground to the distribution point....were European high-tech energy companies.....who no longer operate in Russia.
I talk about this for the sole reason....everything that made Russia into a 'big' player in the world of commerce....revolved around natural gas and oil. Without that mechanism....they slide down into the level below Brazil, India, or Mexico. A back-up marketing or profits tool? No....none.
So this idea of rebuilding their military? It's a joke unless the war ends and relationships start back up with consumer countries.
I'll also offer this humble thought....if you were a Russian billionaire before all of this started, you've probably lost half of your fortune, and see little incentive to remain in Russia and wait this out. I would imagine most have seen enough....to exit and find some quiet place in Asia...to just hang out.
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