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Sanctions fear forces Shell to end all new Russian investment

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Ben Hoyle and Lily Hyde published May 1 2014 by The Times

Europe’s biggest oil company froze all future investment in Russia over the Ukraine crisis yesterday as the IMF said that the Kremlin faced an imminent recession because of Western sanctions. Royal Dutch Shell, one of the biggest foreign investors in Russian energy, warned that it would not “be jumping into new investments anytime soon” because sanctions beefed up by America and Europe in the past week could curtail its own operations. 

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