Gazprom Shares Hit Historic Low Due to China's Stance

On July 16, shares of Russia's Gazprom fell to 83.98 rubles each, marking a historic low and dropping below levels seen during the 2008 financial crisis. Experts attribute the decline to stalled negotiations over the 'Power of Siberia 2' pipeline and China's tough stance, demanding price reductions for gas. This has resulted in a decline of Gazprom's market capitalization by 1 trillion rubles since the beginning of 2026.