Russian energy giant Gazprom has banked £39m profit from its North Sea gas field.

Russia's largest oil and gas company, which is majority owned by the Kremlin, is cashing in from its Sillimanite field, which is spread across UK and Dutch waters in the North Sea.

The company has not been targeted with sanctions by the UK Government, but a number of its top executives have, including chief executive Alexei Miller.

A government spokesman said it would "continue to work alongside our partners to deny Russia access to any of our goods or technologies that it could use in its war machine, restricting Russia's ability to fight a 21st century war".

"Putin and his supporters must - and will - pay the price for their illegal invasion of Ukraine," he added.

"We will continue to ratchet up economic pressure and come down hard on all emerging forms of circumvention until Ukraine prevails and peace is secured."

FTSE 100

The UK's flagship share index, the FTSE 100, was up 16-points at 7,664 shortly after opening this morning.

Brent crude oil futures were up by 0.16% today, trading at $76.73 per barrel.

Companies reporting today

  • Global Smaller Companies Trust - Half-year results

More like this…

View all