... exchange losses, interest payable on debt, reserves, and write-offs. The main negative factor was interest expenses on loans and bonds: in H1 2025, Gazprom paid interest amounting to about 261 billion rubles, which is ~17% higher than a year earlier (the ... ... almost two-thirds of the loss were "compensated" due to tax assets. Such tax optimization is standard practice in corporate reporting: the company legally minimizes tax contributions in loss periods and reflects expected savings in its reports....