OAO Gazprom dropped after Russian Economy Minister Elvira Nabiullina said she will oppose a request by the country’s gas exporter for an increase in domestic prices for the fuel by about 26 percent this fall.
Gazprom sank 2.1 percent to 181.58 rubles as of 5:52 p.m. in Moscow, dropping for a fifth day and poised for its worst losing streak since Nov. 24.
“We don’t support above-forecast increases for services provided by natural monopolies,” Nabiullina told reporters in Moscow today.
To contact the reporter on this story: Alex Nicholson in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com