BP is putting its shares in the Russian group up for sale.
(Photo: Bloomberg/Getty Images)
Dusseldorf It is the largest withdrawal of a Western company from Russia to date: the British oil multinational BP announced on Sunday evening that it would sell its shares in the Russian oil company Rosneft. The share price then collapsed by more than six percent on Monday morning.
The energy group Shell also announced on Monday evening that it would give up its joint ventures with the Russian group Gazprom and associated companies. This also includes the stake in Nord Stream 2.
“We make our decision to end the cooperation with conviction. We cannot – and will not – stand idly by,” said CEO Ben van Beurden. He spoke of a “senseless act of military aggression”.
Shell did not provide any information on the expected financial losses from the exit. However, they are currently investing around three billion dollars in long-term Russian joint ventures.
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