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Gazprom Stops Gas Supplies to the Netherlands and Pays Highest Dividend in the History of the Russian Stock Market

Russian gas giant Gazprom announced today in a press release that gas supplies to the Netherlands will be stopped. The reason for this is the lack of payment for the gas supply in rubles. The press release literally states,

“As of the end of the working day on May 30, Gazprom Export did not yet receive a payment from GasTerra B.V. for the gas supplied in April, which was to be made in compliance with the Russian President’s Decree No. 172 dated March 31, 2022. Payments for gas supplied since April 1 must be made in rubles via new account details, of which the counterparties were duly informed.”

The Company’s Board of Directors has also recommended distributing an annual dividend in the amount of RUB 52.53 per share. Thus, “RUB 1 trillion 243.570 billion” or 50% of adjusted net income will be distributed as dividends. This sum is also a new record not only for the company but also for the entire Russian stock market.

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