Gazprom’s Shares Sink to Record Low

July 16, 2026 Roscongress Shares of state-run energy giant Gazprom plunged to historic lows on Thursday, weighing heavily on the broader Russian stock market as the benchmark MOEX index extended its longest losing streak on record. Gazprom’s stock tumbled more than 5% to a low of 83.98 rubles per share around noon Moscow time, breaking past its previous record low of 84 rubles per share set during the 2008 global financial crisis. The Bell estimates Gazprom’s total market value at just over 2 trillion rubles ($25.7 billion). The slide coincided with a broader retreat on the MOEX index, which fell as much as 3.4% to around 2,040 points — its lowest level since October 2022. The benchmark’s losing streak has stretched over roughly 19 weeks. Gazprom, which holds a monopoly on Russian pipeline gas exports, is typically one of the three heaviest-weighted stocks on the index alongside oil major Lukoil and state-owned lender Sberbank. Most of Russia’s other heavily traded stocks fell between 2% and 8% on the day, according to the Interfax news agency. Analysts cited by Interfax said Gazprom’s shares have fallen under both broader market pressure and an announcement late last month that the company would skip paying dividends for the fourth consecutive year. The selloff also follows a Wall Street Journal report this week stating that talks between Russia and China over the proposed Power of Siberia 2 pipeline have stalled. According to the report, Beijing has demanded to purchase the gas at prices matching Russia’s heavily subsidized domestic market. Once the largest natural gas supplier to the highly lucrative European market, Gazprom has been forced to diversify its export routes away from Europe since the 2022 invasion of Ukraine. Russia has pivoted its energy sales to major buyers in Asia, including China and India. Read more about: Gazprom , Stock Market Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Germany’s Uniper Seeks $50M From Gazprom in Gas Transit Dispute – Interfax A Uniper subsidiary filed the lawsuit with the International Chamber of Commerce’s arbitration court in Geneva, Switzerland. 2 Min read Dutch Court Freezes Assets of Gazprom Subsidiary The Russian oil company, whose net profit fell 1.8 times in the first half of 2025, used the subsidiary to participate in oil and gas projects in Iraq’s... 2 Min read Gazprom Shares Tumble to 16-Year Low as Ukraine Transit Winds Down Gazprom was trading at 106.1 rubles ($1.02) per share on the Moscow Stock Exchange at its lowest point on Tuesday afternoon. 1 Min read Russian Lender Sberbank Overtakes Gazprom Capitalization Sberbank’s capitalization on the Moscow Stock Exchange reached 3.24 trillion rubles as of Friday, Aug. 26, while Gazprom’s stood slightly lower at...