Yesterday BP withdrew as a major shareholder in the Russian State owned Rosneft, costing the Russian govt directly $35B. Today Shell withdrew from Russia, including a 25% stakehold in the largest LNG plant in Russia. The European arm of Russias largest bank Sberbank looks like failing. Many large international companies are getting out of dodge.
What is happening to the Ukrainians is unforgivable, but Putins actions in this war will hit the Russian people hard.
Shell says it pulling out of Russia as President Vladimir Putin’s invasion of Ukraine costs the country’s all-important energy industry foreign investment and expertise.
www.smh.com.au