According to a calculation published on Monday, Gazprom's daily natural-gas production fell to its lowest level in six years. Russia slowed gas flows to Europe due to technical challenges caused by the sanctions against it.
In July, the company's production was 14 percent lower than in the previous month. This year-to-date, the company's production is lower than it was in the same period in the previous year.
Even as daily supply to China increased, July exports to countries outside the former Soviet Union dropped by a quarter.
Europe depends on Russia for 40% of its natural gas needs. The natural-gas crunch has sent prices soaring this year, in turn supporting the Kremlin's finances.
According to the International Energy Agency, Russia's revenue from oil and gas exports to Europe has more than doubled since it invaded Ukraine.
The Russian economy is going to be hurt the most by the shifting natural-gas supply chains, according to an analysis by Yale University.
The importance of commodity exports to Russia far exceeds the importance of Russian commodity exports to the rest of the world.
The European Union has decided to stop most of its oil imports from Russia by the end of the year and will also cut coal imports in August. Europe is trying to wean itself off of Russian gas.
Russian President Vladimir Putin is trying to make up for lower energy sales to Europe by selling them to other markets at a discount.
Russia's position as a commodities exporter has deteriorated due to the loss of its main markets, according to the Yale team.
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