Shell to cease buying Russian oil, natural gas_freckle removal homemade remedies

Shell to cease buying Russian oil, natural gasEnergy giant Shell said Tuesday that it will stop buying Russian oil and natural gas and shut down its service stations, aviation fuels and other operations in the country.

Social Sharing

Decision comes days after Ukraine's foreign minister criticized the company for buying from Russia

The Associated Press(Oli Scarff/AFP/Getty Images)

Energy giant Shell said Tuesday that it will stop buying Russian oil and natural gas and shut down its service stations, aviation fuels and other operations in the country amid international pressure for companies to sever ties over the invasion of Ukraine.

The company said in a statement that it would withdraw from all Russian hydrocarbons, including crude oil, petroleum products, natural gas and liquefied natural gas, "in a phased manner."

The decision comes as surging oil prices have been rattling global markets and days after Ukraine's foreign minister criticized Shell for continuing to buy Russian oil, lashing out at the company for continuing to do business with President Vladimir Putin's government.

"We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products like petrol and diesel — despite being made with security of supplies at the forefront of our thinking — was not the right one and we are sorry," CEO Ben van Beurden said.

He said profits from the company's "limited, remaining amounts of Russian oil" would go to a fund for relief efforts for Ukrainians.

  • 'Emergency' and 'bedlam': Urgent calls for countries to release oil reserves amid sky-high prices
  • UpdatedColliers, Norton Rose exit Russia as Couche-Tard suspends operations in the country

Ukrainian Foreign Minister Dmytro Kuleba said he had been told Shell "discreetly" bought the oil Friday and appealed to the public to pressure the company and other international firms to halt such purchases.

"One question to Shell: doesn't Russian oil smell (like) Ukrainian blood for you?" Kuleba said on Twitter. "I call on all conscious people around the globe to demand multinational companies to cut all business ties with Russia."

On Tuesday, following Shell's announcement, Kuleba took to Twitter again to applaud the move.

Grateful to <a href="https://twitter.com/Shell?ref_src=twsrc%5Etfw">@Shell</a> for taking this moral and responsible step and encourage other world businesses to follow suit. <a href="https://t.co/2n1uR01iRl">https://t.co/2n1uR01iRl</a>

&mdash;@DmytroKuleba

Last week, Shell said it was "shocked by the loss of life in Ukraine" and would end its joint ventures with Gazprom, the massive oil and gas company controlled by the Russian government.

Tough sanctions

While the U.S., Britain and the European Union have imposed tough economic sanctions on Russia, they have stopped short of banning oil and gas imports from Russia because of concerns about the impact that would have on global energy supplies. Russia is the world's second-biggest oil producer, accounting for more than 12 per cent of global production, according to the International Energy Agency.

WATCH | U.S. officials are weighing a ban on Russian oil:

U.S. officials weigh ban on Russian oil

22 hours agoDuration 2:39The Biden administration is considering banning oil imports from Russia, a move that could trigger higher gas prices. White House officials have confirmed discussions are in the works with other oil producers, including Venezuela, Saudi Arabia and Iran.News|Corrections and Clarifications

(editor:)

HOT
NEW
top 10
Link