World News | Shell Pulls out of Energy Investments in Russia over War

London, Feb 28 (AP) Shell says it pulling out of Russia as President Vladimir Putin's invasion of Ukraine costs the country's all-important energy industry foreign investment and expertise.

Shell announced its intention Monday to exit its joint ventures with Gazprom and related entities, including its 27.5 per cent stake in the Sakhalin-II liquefied natural gas facility, its 50 per cent stake in the Salym Petroleum Development and the Gydan energy venture.

Also Read | Russia-Ukraine War: Ukrainian Towns Authorise Officers To Shoot Looters on the Spot.

Shell also intends to end its involvement in the Nord Stream 2 pipeline project.

“We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security,” said Shell's chief executive officer, Ben van Beurden. (AP)

Also Read | Arya Aldrin, Indian Medical Student in Ukraine, Refuses To Leave Behind Her 5-Year-Old Siberian Husky ‘Zairaa’.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)