Shell vows complete break with Russia
Shell said early Tuesday it will "withdraw from its involvement in all Russian hydrocarbons," including spot purchases of Russian crude oil.
Driving the news: The U.K.-based giant apologized for its recent buy of a Russian cargo at a steep discount.
What they're saying: "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," Shell CEO Ben van Beurden said in a statement.
- "Our actions to date have been guided by continuous discussions with governments about the need to disentangle society from Russian energy flows, while maintaining energy supplies," he added.
- The company also announced it would end its partnerships with Russian energy company Gazprom.