Gazprom is considering cutting about 40% of its headquarters staff - more than 1,500 job cuts - as the Russian gas giant grapples with the loss of most of its sales to Europe, state news agency TASS reported on Monday.

Gazprom's board is proposing that about 1,600 managers and administrators be cut from its headquarters at St. Petersburg, citing recent challenges.

The move comes as the company has effectively lost its European export market, with the only remaining gas route to Europe now running through Turkey. Read also: Gazprom eyes massive 40% central staff cut,

The Kremlin said on Thursday that Russia was ready to provide gas to Moldova's breakaway Transdniestria region, but needed logistical support from Moldova to make that happen.

Days before President Biden leaves the White House, the U.S. government has delivered a major blow against Russia. On January 10, 2025, the

In the capital of Transnistria, a Kremlin-backed microstate sandwiched between Moldova and Ukraine, the festive New Year’s lights have gone dark ahead of schedule. This separatist sliver of Moldova will run out of energy in three weeks,

In the run-up to his departure from the White House, President Joe Biden has slapped a number of major new sanctions on Russia’s financial systems and energy sector. The U.S. originally threatened Russia with “the mother of all sanctions” as Moscow prepared to invade Ukraine in February 2022.

Liquefied natural gas (LNG) from Russia to the European Union may be phased out by Brussels, according to Bloomberg.

Gazprom provided about 7 percent of Russia's federal budget in 2021, the year before Putin's full-scale invasion. By 2023, it was estimated to provide about half of that as sanctions, reduced production and historic losses hit the sector. Large-scale layoffs could add to the pressure on Russia's key revenue generator for the war.

Russia's Gazprom is considering cutting hundreds of administrative jobs, a company spokesman confirmed to AFP on Monday, as the gas producer reels amid the loss of key exports to Europe.

(Reuters) - Moldovan President Maia Sandu visited areas hit by rolling power cuts on Thursday and blamed Russian gas giant Gazprom for the energy crisis gripping the country's Transdniestria pro-Russian separatist enclave. In Moscow, Kremlin spokesman Dmitry Peskov said Moldova and Ukraine were responsible for the heating and power shortages.

Sanctions Relief Under New US Leadership: With President-elect Donald Trump set to assume office soon, there is speculation about a potential resolution to the Ukraine conflict. A brokered peace deal could result in lifting the latest sanctions, easing the pressure on India’s crude imports.