Support The Moscow Times!

Gazprom Split Proposed

Russian tycoon Oleg Deripaska in an interview with the Financial Times proposed splitting natural gas giant Gazprom into two companies.

One of them could supply gas to Europe, while the other might focus on Eastern Siberia and the Far East, he said.

Deripaska also said that rising energy costs were an obstacle for economic growth. Referring to the fact that the price of natural gas is now nearly double that in the U.S., he blamed Gazprom for the situation.

Deripaska went on to lambast Russia's monetary policy.

"Russia will not get any benefit out of World Trade Organization membership unless we pay attention to these issues — the cost of capital and interest [rates]," he said.

The country's banking sector has to be thoroughly reformed, he added, to make loans more accessible to medium and small-scale enterprises.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more