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Breaking up with Russia is hard for many Western firms, despite war

The Washington Post

Breaking up with Russia is hard for many Western firms, despite war

By : April 15, 2023 at 7:21 a.m. EDT
RIGA, Latvia — Only a small percentage of the hundreds of companies that promised to leave Russia after its invasion of Ukraine have exited, according to several groups keeping a scorecard — and for those that dawdled, departing has only become more expensive and complicated.

But leaving can be complex. Four days after the invasion, Shell announced it was leaving Russia and later wrote off its nearly 27.5 percent stake in the Sakhalin-2 LNG facility in the Far East at $1.6 billion. This month, an unconfirmed Russian newspaper report suddenly surfaced that Putin had given permission for the company to repatriate $1.2 billion from the sale of its stake in Russia’s Novatek. Shell had no comment.

Francesca Ebel in London and Natalia Abbakumova in Riga, Latvia, contributed to this report.

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