Gazprom Floats Gas Cut, Russia Faces Sharp Slump

Russia has been working to find new buyers for its oil, and time is running out to get cargoes from distant ports to China and India before European Union sanctions on seaborne shipments hit on Dec. 5. “It’s always a matter of balance between volume and price, and quite a lot can be sold if you give a big discount,” Alexey Zabotkin, deputy governor of Russia’s central bank, said at a finance forum in Moscow.

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