Russia has increasingly faced obstacles to selling oil and gas.
Shell said on Tuesday it was breaking completely with Russia’s energy industry giant, halting all purchases of Russian crude immediately and closing its service stations in the country.
The UK-based company, which last week announced it was suspending its investments in Russia, said its decision to abandon all Russian fossil fuel trade was “in line with new government guidance”.
Russia’s vast energy exports have so far been drawn from unprecedented sanctions imposed by the West in response to President Vladimir Putin’s decision to order his troops to invade Ukraine.
But Russian crude is already being shunned by some traders and oil companies, and US officials are discussing an import ban. Russia’s benchmark Ural crude is trading at a discount of $25 a barrel, compared with just a few dollars before the invasion.
Moscow warned on Monday that oil prices could rise to $300 a barrel if the West bans its oil, adding that it could cut off natural gas supplies to Germany in retaliation for Berlin’s decision to block the Nord pipeline. Stream 2 from Russia goes live.
Source: CNN Brasil
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