This is MONEY
Shell may have to write off investment of more than £3bn in major Russian gas project after Vladimir Putin moves to seize control of site
Shell may have to write off an investment of more than £3billion in a major Russian gas project after Vladimir Putin moved to seize control of the site.
The Kremlin has drawn up plans to transfer ownership of the Sakhalin-2 plant, located in the far east of the country, to a new Russian firm citing national and economic security interests.
Putin has given the project’s backers a month to decide whether they will take a holding in the new company, meaning those that refuse could lose all their money. Shell owns nearly 28 per cent of the Sakhalin-2 plant worth around £3.4billion.
yahoo
The Telegraph
The Telegraph
Ukraine brands Shell ‘deplorable’ after accusing it of using an ‘accounting trick’ to keep buying Russian oil
“For Shell, the strategy is not risk free. The company was forced to issue a rare apology last month after its traders bought a single cargo of deeply discounted Russian Urals crude, triggering an outcry that included the Ukrainian foreign affairs minister accusing the company of profiting from Ukrainian blood.”: “The moral question awaits its reckoning.”
The Washington Post
