Russia’s business rupture with the West grew wider as Shell, General Motors and others announced plans to end or freeze their dealings with the nation after its invasion of Ukraine.
Even Switzerland suspended its centuries-old policy of neutrality and isolation to say it would join the European Union in closing its airspace to Russian flights and imposing sanctions on Russian President Vladimir Putin and other officials.
“I’m an American patriot and we’re going to do what the American government tells us to do,” he added. The London-headquartered company said it intends to “exit” stakes in joint ventures it shares with Russian gas giant Gazprom, estimating the value of these stakes at $3 billion.These include Shell’s 27.5 percent interest in Sakhalin-2, a large oil and gas project located on Sakhalin Island off Russia’s Pacific coast. Shell and other oil majors have been pursuing large projects on the island since the 1990s.
A GM spokesman said the decision was “due to a number of external factors, including supply chain issues and other matters beyond the company’s control.”it might need to suspend shipping to and from Russia to comply with “ever-evolving sanctions” and airspace restrictions.
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