The British-Dutch oil and gas company Shell will stop buying Russian oil and natural gas, and will also close its filling stations in Russia. The company apologized in the announcement for criticizing itself for buying oil last week.
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Western companies are under increasing pressure to sever their trade relations with Russia for Russia’s military invasion of Ukraine.
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Shell said his departure from Russia would be gradual. The company will first limit purchases in the so-called spot market, where raw materials are purchased for immediate delivery.
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In agreement with the governments concerned, Russian natural gas will begin to be phased out of its supply chain as soon as possible – both the one supplied by the pipeline network and the one in liquefied form. Shell emphasized that it depended on working with governments and energy suppliers.
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However, according to Shell, it can take up to weeks and lead to supply problems in some refineries.
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“These societal challenges pose a dilemma between putting pressure on the Russian government over its atrocities in Ukraine and ensuring a stable and secure energy supply in Europe,” said Shell CEO Ben van Beurden. The proceeds from the sale of oil purchased last week are donated to Shell for humanitarian purposes.
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Ukrainian Foreign Minister Dmytro Kuleba previously wrote that he had been told that Shell had discreetly bought oil on Friday. He therefore called on the public to put pressure on the company and other international companies and try to get them to stop such purchases.
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“One question for Shell: don’t you smell Ukrainian blood from Russian oil?” Kuleba said on Twitter. “I urge all conscious people around the world to demand that multinational companies sever all ties with Russia,” he added.
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Shell said last week that it was shocked by the loss of life in Ukraine and that it would end its joint ventures with Gazprom. That is, with the Russian gas colossus, which is controlled by the Russian government.
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Russia is resisting rejecting its oil. Deputy Prime Minister Alexander Novak warned on Monday that if the West bans Russian oil imports, Moscow could cut off gas exports to the European market. The European Union is much more dependent on Russian gas than on Russian oil.
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Shell follows the example of BP, which announced its departure from Russia last week. It will cost BP at least $ 25 billion.
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