Shell, BP pull business out of Russia in efforts to apply economic sanctions

Shell, BP Pull Business Out of Russia Following Invasion of Ukraine in Efforts to Apply Economic SanctionsFollowing Russia's invasion of Ukraine last week, energy companies such as Shell and BP have made the decision to stop all business operations in Russia

This decision by the two companies is a move to place further economic sanctions on Russia but will also result in heavy losses for the energy firms Some social media users have applauded Shell for its decision, however, some people think that Shell should not be praisedMOSCOW - Sanctions against Russia for invading Ukraine have intensified and petroleum and oil companies such as Shell and BP are now stopping all operations in the country.

Shell made the announcement on Monday, 28 February stating that it will also stop operations at its major liquefied natural gas plant. Shell is now the largest Western company to stop dealings with Russia, despite the country being an oil-rich country.

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Business Maverick: As BP and Shell Exit Russia, These Companies Still Have TiesThe invasion of Ukraine has prompted oil giant BP Plc and Shell Plc to quit Russia in a historic move that will bring billions of dollars of impairments. Now the pressure is building on others to follow suit.
Source: dailymaverick - 🏆 3. / 84 Read more »