Shell is allowed to pass Russian partner to help gas station subsidiary in Ukraine | Financial

Cicerone operates more than 130 Shell service stations in Ukraine. Some of them are damaged and no longer work. But the Ukrainian government has asked Shell to keep the stations running as much as possible, so that Ukraine is not deprived of petrol and diesel.

According to Shell, about 20 million dollars is needed to keep Cicerone afloat. The oil and gas group is prepared to make that financial injection, but co-owner Todwick has been thwarting for some time. That company also owns a part of Cicerone and Todwick’s cooperation was needed to take action.

Judge

Todwick himself belongs to Russian oligarch Eduard Khudainatov, a businessman who is also on the sanctions list of the European Union. The company saw nothing in Shell’s plans. Ultimately, Shell therefore decided to go to court.

In its ruling, the Enterprise Chamber says that it does not only take into account the interests of the companies involved, but also the approximately 1,700 employees of Cicerone. In addition, questions are being raised about Todwick’s position in the conflict. It has therefore been decided that the need for Shell to act in unison with Todwick will lapse for the time being.

Shell reacts positively to the ruling. This would enable the group to help maintain important national infrastructure in Ukraine.

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