Shell Says to Stop Russian Oil Purchases

Energy giant Shell declared Tuesday it would withdraw from its involvement in Russian gas and oil, including an immediate stop to purchases of crude from the country“in a phased manner, aligned with a new (UK) government guidance” following Russia’s invasion of Ukraine. “As an immediate first step, the company will stop all spot purchases of Russian crude oil,” it said in a statement. “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,” said chief executive Ben van Beurden.