Shell to stop Russian oil and gas purchases, apologizes for buying shipment after Ukraine invasion

Shell to stop Russian oil and gas purchases, apologizes for buying shipment after Ukraine invasion

The Shell logo is displayed in front of a Shell gas station on July 30, 2020 in San Rafael, California. Royal Dutch Shell reported second quarter adjusted earnings of $638 million compared to a net profit of $3.5 billion one year earlier.
Justin Sullivan | Getty Images

Oil major Shell on Tuesday apologized for a buying a heavily discounted consignment of Russian oil last week, and announced its intent to withdraw from its involvement in all Russian hydrocarbons.

“As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia,” it said in a statement.

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