Extracts from a MarketWatch article published 31 July 2014
LONDON (MarketWatch) — The U.K.’s benchmark’s stock index rose for the first time in two days on Thursday, getting a lift from shares of Royal Dutch Shell PLC after the oil giant’s earnings jumped in the second-quarter. The oil major said its second-quarter profit more than doubled as it benefited from higher liquid-petroleum prices and higher prices for specific products.
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Looking the uplift of UK’s benchmark stock’s index from shares of Royal Dutch Shell PLC after the oil giant’s earnings jumped in the second-quarter, it is rather unfortunate that the Royal Dutch Shell is smiling to the banks with gains from its operations, whereas the company has been behind the ‘financial muscle’ of Russia that is fueling the crises in Ukraine. The oil major statement that, “its second-quarter profit is more than doubled as it benefited from higher liquid-petroleum prices and higher prices for specific products,” clearly justifies the fact that the Royal Dutch Shell prefers to protect its financial gains and shares of stakeholders over and above human lives. Otherwise, the oil giant would have taken practical steps to suggest to the world that they are not in support of the onslaught against Ukraine by the Russia Government and its pro-Russian Separatists partners.
With U.S. and European Union imposed restrictions on the operations of some banks and energy companies in an effort to isolate the Russian economy, other countries/world powers should equally rise up and take practical steps to initiate further sanctions and punitive measure against Russia and its partners like Shell and pro-Russian Separatists. Somebody has to put President Putin in his place and make him stop the onslaught against Ukraine. Shell, which is in the middle of all of this with its “collaborative tendencies of supporting repressive/aggressive regimes,” should equally not be left out in such punitive measures.