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Evening Standard

Business

Simon Freeman

‘We will not stand by’: Shell exits Russia projects worth $3bn as Ukraine backlash grows

Shell Russia Ukraine United Kingdom Gazprom Kremlin Nord Stream 2

ENERGY giant Shell has bowed to pressure to exit all joint ventures with Kremlin-controlled oil firm Gazprom, ditching stakes in three major gas projects and the undersea pipeline Nord Stream 2 worth a total of $3 billion.

CEO Ben van Beurden said: “We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security.

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