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Shell to stop buying Russian oil and gas

Bloomberg
Bloomberg3/8/2022 07:25 PM GMT+08  • 1 min read
Shell to stop buying Russian oil and gas
“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil” was wrong: Shell.
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Shell Plc will phase out all purchases of Russian oil and gas, with an immediate halt to crude deals on the short-term market, following international opprobrium over its dealings with the country.

“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil” was wrong, the company said in a statement on Tuesday. “Our actions to date have been guided by continuous discussions with governments about the need to disentangle society from Russian energy flows.”

The invasion of Ukraine prompted a huge range of companies to withdraw from Russia, including energy giants BP Plc and Exxon Mobil Corp. Attention has now shifted to the country’s energy exports, a crucial source of revenue for President Vladimir Putin’s government.

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