Report: Gazprom may cut hundreds of jobs overseas due to tensions

MOSCOW, Mar 14 (PRIME) -- Russian gas giant Gazprom plans to cut hundreds of traders at its foreign trading and export offices, including the U.K., and move them to Russia in the course of rising tensions with Western states, Reuters news agency reported on Wednesday citing two sources familiar with the plan.

One of the sources said that the decision reflects a trend of Russian state firms retreating from the West as part of President Vladimir Putin’s drive to repatriate capital to reduce exposure to sanctions and also shore up the domestic economy.

“The reorganization comes as relations between Russia and Britain, where Gazprom has the largest trading office by far, have hit a new low after Prime Minister Theresa May said Moscow was to blame for the attempted murder a former Russian double agent in an English city,” Reuters said, but added that the decision is likely to be made long before the scandal.

Gazprom said that it is too early to comment on the reorganization which can see the number of people in the company’s foreign offices more than halved.

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