Sold Gazprom

In 2020, Gazprom sold 78% of its gas to Western Europe.  The story was that it would keep growing through Nordstream 2 and increasing exports to China.

Now Nordstream 2 is finished.  And Europe is likely to wean itself off Russian gas in the next few years.  Its a matter of survival.  So Gazprom is no longer a long term dividend story.  

Would I buy at at its current price?  No.  Too unpredictable.  So out it goes.  Sold on the bounce tonight.  Loss of USD 2K, or around 14% (includes dividends received).

I need to think about my other Russian stocks.  Oil, fertiliser and metals are harder than piped gas to place sanctions on. But oil production probably falls long term as the Russians need western technical expertise to keep their equipment running and drill new wells.

Bought back 1% more gold after it corrected yesterday.  Now back at a 6% position, and want to buy more.  With 6 rate hikes priced in (after the start of the war), thats still 5 too many.