Russian energy giant Gazprom has halted business with North Korea, RIA Novosti reported.

Gazprom management was apparently worried that the company could otherwise suffer losses amid international sanctions against the North.

Gazprom had been engaged in gas pipe construction and exploring natural gas deposits in North Korea.

The Russian state news agency said Gazprom stated in a recent memorandum of understanding on the issuance of eurobonds that it is not involved in any business with the North.