. In Case You Missed It – Major Oil Companies Pull Out Of Once-Promising Russia « JO LEE MAGAZINE

NPR – Shell announced on Monday it will cut ties with the Russian state-owned energy giant Gazprom. The move follows a similar decision from BP, which on Sunday said it will sell its shares in Russian-state firm Rosneft. The back-to-back announcements signal that even though Western countries have not sanctioned Russian energy firms, businesses no longer see operation in Russia as a safe investment.

Gazprom’s and Rosneft’s London-listed stocks suffered major losses on Monday, losing 42% and 53%, respectively.

More at NPR

Comments are closed.