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Shell says it will stop buying Russian oil, natural gas, as over two million flee Ukraine

Shell says it will stop buying Russian oil, natural gas, as over two million flee Ukraine

13 Sept 13:52 Key points summarised by AI
  • Energy giant Shell announced it will cease buying Russian oil and natural gas and shut down its operations in Russia, including service stations, in a phased withdrawal from all Russian hydrocarbons.
  • Shell CEO Ben van Beurden apologized for a previous purchase of Russian crude oil, acknowledging it was a wrong decision, and committed profits from any remaining Russian oil processing to a dedicated fund.
  • The decision follows significant international pressure and criticism, including from Ukraine's foreign minister, and comes amidst a humanitarian crisis with over two million people fleeing Ukraine due to the conflict.
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