Gazprom swings to net loss of US$3.3bil in third quarter

MOSCOW: Russian gas giant Gazprom incurred a loss of 251.3 billion roubles (US$3.3bil) in the third quarter, down from a net profit of 211.8 billion roubles in the same three months of 2019 due to the weak rouble, the company said.

Russian companies, which carry debt denominated in foreign currency, have suffered losses due to the devaluation of the Russian rouble, which fell due to the pandemic.