The Telegraph
Shell pledges Russian oil profits to Ukraine relief after backlash
The British company defended the decision to buy oil from the country, saying it was difficult but necessary.
By Ben Gartside: 5 March 2022 • 11:51am
Shell has pledged to donate any profits it makes from discounted Russian oil to a Ukrainian disaster relief fund, following stinging criticism of its decision to keep buying tankers of crude as war rages.
Shell broke ranks with Western traders on Friday when it bought Russian crude for $28.50 a barrel less than the Dated Brent benchmark for physical oil, saving millions of pounds at a time when global prices are surging.