Home
Category
TV Live Menu
Loading data...

Russian State Oil Giant Rosneft Profit Falls After Sanctions

6419d863663c4
BM.GE
21.03.23 22:00
269
Russian state oil giant Rosneft posted a sharp drop in its annual profit on Monday in the wake of Western sanctions against the country.

The company announced a net profit of 813 billion rubles ($10.5 billion) for last year, down 7.9% from 2021.

Rosneft said "non-monetary factors played a large role in determining the dynamics" of its earnings.

It added the profit level "forms a solid basis" for paying dividends.

Western powers have imposed a raft of sanctions against Russia over the conflict in Ukraine, including a price cap on its crude at the end of 2022.

In 2021, Rosneft set its record net profit of 883 billion rubles, AFP reports.

Subscribe to our news

Get the main news of the day