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Shell: not entering new Russia investments

Shell's Ben van Beurden bows to Putin on Good Friday, 18 April 2014

Shell’s Ben van Beurden bows to Putin on Good Friday, 18 April 2014

Extracts from an article by AP Business Writer TOBY STERLING published 30 April 2014

AMSTERDAM (AP) – Royal Dutch Shell PLC says it will not be entering new investments in Russia anytime soon as tensions rise over the country’s confrontation with Ukraine. Chief Financial Officer Simon Henry said the company, Europe’s largest oil company, will continue to oversee its existing operations and will cooperate with any sanctions placed upon Russia by Western powers. Amid the uncertainty, however, it will hold back on starting new projects. Meanwhile, Henry defended a meeting this month between Shell CEO Ben van Beurden and Russian President Vladimir Putin, saying it should not be interpreted as the company taking sides in the Ukrainian crisis.

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