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Shell stands to make $20mn from contentious Russian oil trade

Financial Times

Shell stands to make $20mn from contentious Russian oil trade

Discounted cargo was bought days after group announced it was pulling back because of war

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Shell stands to make a $20mn profit from a cheap cargo of Russian crude it bought just days after the oil major announced it was pulling back from the country following its invasion of Ukraine.

When the London-listed company revealed on Monday plans to exit its joint venture in Russia, its chief executive Ben van Beurden said he was shocked by the loss of life in Ukraine, resulting from a “senseless act” of military aggressive, which “threatens European security”. 

Yet on Friday, Shell’s powerful trading arm bought 725,000 barrels of Urals, Russian flagship crude…

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