Shell says decision to exit Russia has already cost energy giant as much as $5-billion

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The reduced value of Russian assets, credit losses and ‘onerous’ contract terms will cut earnings for the first three months of the year by between $4-billion and $5-billion, Shell said Thursday

says its decision to pull out of Russia in response to the country’s invasion of Ukraine has already cost the international energy giant as much as $5-billion.

Shell said last month that it was “appalled” by the invasion of Ukraine as it announced plans to exit joint ventures with Russian state-owned energy company Gazprom. Those assets alone were valued at about $3-billion at the end of last year, according to Shell’s annual report. Shell’s decision came as the U.K. joined governments around the world in imposing sanctions on Russian companies, banks and wealthy individuals in an effort to pressure President Vladimir Putin to withdraw his forces from Ukraine.

 

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No it's not, we're paying $5 billion at the pump!

So relatively, not much for a company of that size.

So maybe they can shave some of those yearly bonuses, and reset wages, DanPriceSeattle style! Could you imagine if gas station attendants made a living wage!

Fuck Shell and the fossil energy parasites in general. Seize their money to pay for a green transition.

And yet they still make gigantic profit 📈🙄

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