May 30, 2023

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Shell: Our withdrawal from Russia will cost us $ 5 billion

Shell: Our withdrawal from Russia will cost us $ 5 billion

He added in a statement after his recent announcement that he was stepping down RussiaThe AFP estimates that the deficit will be $ 4-5 billion in the first quarter of this year due to the writing off of assets and additional fines related to Russian activities.

Property value comes after depreciation is declared Disable In late February, it will sell its stake in all joint ventures with the group.CospromRussia’s response to Russian military action in Ukraine.

The Shell Group, which is listed in London, said at the time that the value of the projects was estimated at $ 3 billion.

Shell announced its withdrawal from its portfolio last March Oil and gas Following the policy of the British government, the company immediately stopped buying Russian crude oil.

The company also apologized for purchasing exports from Oil The Russian Federation announced a significant reduction in its prices and promised not to do so.

However, the AFP said on Thursday that Shell would continue to abide by agreements to buy fuel from Russia, which were signed before the outbreak of the Ukrainian war.

“Shell has not renewed long-term contracts for Russian oil and will only do so with clear government orders, but we are legally obligated to obtain crude oil exports purchased under previously signed agreements,” he said in a statement. Russian military operation in Ukraine.

Shell warned Global oil markets As a result of the conflict, prices are still “fluctuating” even after reaching an all-time high last month.

It is noteworthy that since the beginning of the military operation in Russia, various international organizations have suspended their trade activities in Russia Ukraine As of February 24, Shell’s most important competitor in these companies is BP.

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