{"id":19882,"date":"2022-04-07T15:10:06","date_gmt":"2022-04-07T15:10:06","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/04\/07\/shell-says-exiting-russia-has-already-cost-it-as-much-as-5-billion\/"},"modified":"2022-04-07T15:10:06","modified_gmt":"2022-04-07T15:10:06","slug":"shell-says-exiting-russia-has-already-cost-it-as-much-as-5-billion","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/04\/07\/shell-says-exiting-russia-has-already-cost-it-as-much-as-5-billion\/","title":{"rendered":"Shell says exiting Russia has already cost it as much as $5 billion"},"content":{"rendered":"<section >\n<p>Shell says its decision to withdraw from Russia in response to the invasion of the country <span >Ukraine<\/span> it has already cost the international energy giant up to $ 5 billion.<\/p>\n<p>Reducing the value of Russian assets, credit losses and &#8220;onerous&#8221; contract terms will reduce earnings in the first three months of the year by $ 4 billion to $ 5 billion, London-based Shell said on Thursday.  The estimate was part of an update released before the full first quarter earnings release on May 5th.<\/p>\n<p>In 2021, Shell made a profit of almost $ 19.3 billion. <\/p>\n<p>Shell said last month that it was &#8220;dismayed&#8221; by the invasion of Ukraine, as it announced plans to leave the joint ventures with Russian state energy company Gazprom.  These assets alone were valued at about $ 3 billion at the end of last year, according to Shell&#8217;s annual report.<\/p>\n<figure >\n<div >\n<div ><\/div>\n<p>    <iframe data-src=\"https:\/\/www.cbsnews.com\/embed\/video\/?v=cb92b8400dc6a443c4d17664ebc71e3a1649344204#vVf5c9u6Ef5XOJxGPWxY4E3qjaeV7bh1m5dokpf%2BYmU0IAhSiHmVICUrjv737oLU5aRN%2Btp0coACFsBiv2%2BvJ5N1bVXnbGNOUpYrcW4mYiW5MCfwoR5gzTw3VzIRlTl5MmUrCmVO7p%2FMdlOjzKpKYF0m8Okk1PVsHpBAJDZxmWuRKOIJSa00skI7tiOegmxRP74V6R3u6JyqTd%2B8%2BmthZ1m4vN3MwvLuWk2DIlnO5MdcgHTVyEyWLxPZyqrELQomVd5l8F2KNVGs5LikSMuaTLSk6ZSSTJGCfawaErPyQRFWJqRuhIJXlC1Z5SyRhWxI3bUSNiasy5ataPDkVrY5Puu1WBv7o43%2BaOOtPvq3ytCnmmipB5CFj7TL8%2B%2FbqtXqDzBALWO2U8v4%2B6CWMUO1QPRYL87KqpSc5b%2F8yFtaWQjVsqI2J5bvRo4T%2BG5IKYWXdg3rEXAc7%2FDzFYtFDtpQb%2BJ4cEDe%2Fy7BHECKgmVCIWsUgr1s21pN5uP5mMcKoFP2BXxIuK%2BV%2FIJXxXy87OL5WM7HzXxsU9uej6kL%2F4L5WKSh7XteRETAKHGFHREWU594bmCzOPI8GoB0u%2ByKuGQyn499lz46PoWdHvU9N%2BKhx%2BJY2PCY2Iotn8HAaRxbeAcNyKASAQPujNoTSXOEINMizwoDnwwnX3ysM3jw8qsvc37gyyw7pI%2BBDU8LLZp4gR04aZpQL0ojakW%2BT1OPhWmUBPZ%2F9bTtuQkes5Ji%2Fb7JT96o6hzCwwUr8uxCVvMxq%2BFdK7hNB4n5%2BFtOPR8PB8%2FHh8hydH7dVMkFhBW9cjFo31tx%2BAFXgR2XuXpuTPhF%2FcjxAivy%2FPlYP8tZaMGCKSD5ReF04e5W%2B%2F9%2BbVo1BWvhWlajEbULzcePpKhF9v7tK5Donhl7vV6f6jIY%2BX8d%2BjQWUt0VdYUK73MBhH%2FJdeBHogeRTRlwkliJFxIX4jxhjueSADjJojiwaBodwjPoTTTziqopZZkpwnNZY5xZStGwhi8h59yjmIFixk4Mw93zOaPf%2BgFYyRp4yS%2Bo12tWYCi8vnpnvEbhnw8H7G%2B42vRS918V%2B2LOuN7dw%2FJ80O70Eb12X33YB3AaUUtVJXChBXYQTOmkZaFRRFaA4v1CVyMmam9muGzKOcxc5RV%2F2AdQ9V6J5l0XK97IWCR7cVUD6lWzk1uKx%2BmNSFmXI7foOfwx9ezVYdaJzl3v3EN4WIKApuv%2B%2F0Uuy4cTzgUpDYKL1UW6LpriohQt%2BHgyH2cQe%2F7IgUiXTxDZYSN%2Bb0dMletLz6aOZY04w1X8fztKc5ZdvrCvWMFjGETBGxhU3tZ60JP%2FaPUA5QYOacwSXNuUHIay0xuYaOWoEG1zaVHbGR3uAn9Nh%2B8XzvTPVZXl4mZ6d%2F1uerdYUVhfNeXl%2Fdvp65s3P38YgbXry1XBagvvA6d0R%2BpI8VV9JPzTAh5XSgGmLhfgqQt41Ixe02snmN4Qm167xH15G5Dpre2Rq5dX11eWf3Mbei9HUDABUjU65QI8%2BVLbFLR7Yd%2FC32e%2BPFplHZpLD9uR%2BnT5hGWYaBZKfhLb0RI88Rsn1FiEwTYctiPtq5dPetiO%2Biru8qkftyM4u8X4c7kW8QhfKNUCpgBMPW5HT2mhFuBdrFDbn0ztaKzQ6RuBBoYcw440AvuZk96AWKD0Mhp8DHUAP%2Fw%2BQ%2FjPEPwzhP4MgT9D2M8Q9DOE%2FAwBP0O4zxBsrBABbvATwPvcPL4DIYcz%2B5%2BTLyBHnQF0kNghCTMIPJapCP2ZBh598UR1BP9005cEgPXvooAuCk9I8O%2FCOWYiRB8N19MAlfuEP4%2BpgM4MZPjGSfVQkQ90MPfB2xwoYR6V9jta4L6BGDAL1Bhe35NCg97TQxcEB8lda7CF6bZh%2FAHCoKZKVSheNUJ%2FQ4J1KPVo6AM%2F3D5Svz4ozH2Y%2BgOGMPhRqoVqF5noy3rVz7B6wRCa1%2FPxdC%2FDUa0Vt6z9jDbN8dmoVdY3LLzqyraRWIfeQ1SPc9A1l7hDx1IQLLrHWVPVomk3fxOQkUwbExvzfMcKEgtqRzeybMdhjm9uP2hyMl3TwrNbkW3wG%2BaWVdLndVEm%2Bv4hCep8TaqVaABQUld1l7MGsenBAm0hlmNeOPQe6Fu1hI99tn9cQuHBqzwXvC8Z9tsGkecXQDp%2FBoxUL0sW55hEdDpiDdSmuZh2oHmDzdi96dCE8STmxGchI5YlbBIllk0otcJUhAxKZ6oz4%2FHWXXYduGj8bikTKDWMeAN5Rfz%2BSF53fFx4PqU8JtQVjLhpGJMwiSiJuG%2FxNGABjfyDdrMuvgEjIyZQcMEeQgPD8iY0nNj2QWzXE6mlyHPoijbKEI%2FQMJaZ0ZdExpJBH5Q3giUbg4MrGbI1YKro%2BBLH33hGLPMc%2B5vDoTuAyhbsvBhmkbZ7HAazQeXuQEdBBPehgvcsSuIAbBczLxRpIkKeBGiGw76dzdasMWRpdA8NA1uhTO%2BVw9WH9luqG7FCK%2BiwnO0E0OAL7MgxasD4vEuGqb9ILObuzQLYslmzli%2FxGlx51%2BsCwkdr%2FdJwPIZOqDPkShh9YNBhRMPohknohZyTwAuTf0WVYcNQpZ3c0kFdM9yCjS12jlCWohu7gw5vdN%2B%2Fe8pg%2FXdV1%2BjwBWzDxgNW4gYq3NkQmHqK9Uxc4CmLgw33HfSMtUvtXH1Nr0kzlM4EeEKQH8QjAyFIArCxoUDen%2FG8J%2FqiTP%2FPz4YSUBe16hlc570FBpIQ6NjarikqmWsgBfAzYc3msLVTXy7cJXopDSjQ0YlJbIu0R405KSXUjiwrdKFrgfrwQ0%2BxAbVf85LF7LB%2FMMrk15yzo%2BLNLmmdEvLz588HdFF21kCB0mze9tUKduDD7biIZQVrHgRGheu86pI3TabpYtEbx7Jtz7O921sviOjUjeiNe%2FOnaVLFQMNMu%2FxpVjOHtGYOee00EX9%2FXoNIzk6z2PFJ2%2F5Zp5Yc3nqte4yjyVawXHYFaohlksyPlof3ixJjCPa5eHQhEslmldIhY%2FBFUWCX0RPgB1Bcp6pvnvvjOtzt9p8%3D\" ><\/iframe><\/p><\/div><figcaption >\n<p>          <span ><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\"><use xlink:href=\"#icon-video\"><\/use><\/svg><\/span><\/p>\n<p>          <span >The new sanctions target Russia&#8217;s main banks and the daughters of President Vladimir Putin<\/span><\/p>\n<p>          <span >05:35<\/span><\/p>\n<\/figcaption><\/figure>\n<p>The company later said it would <span >stop buying russian oil<\/span> and withdraw from any involvement with Russian hydrocarbons &#8220;regardless of their financial implications.&#8221;<\/p>\n<p>Shell&#8217;s decision came when the United Kingdom joined governments around the world <span >imposing sanctions<\/span> against Russian companies, banks and wealthy people in an effort to pressure President Vladimir Putin to withdraw his forces from Ukraine.<\/p>\n<p>Energy companies are under pressure to sever ties with Russia because <span >oil and natural gas exports<\/span> they are crucial to funding the Kremlin and its military.<\/p>\n<p>More than 600 companies have them <span >close its operations in Russia<\/span> or they took other measures to reduce their business in the country, according to a count maintained by researchers at the Yale School of Management.<\/p>\n<p>  <!-- data-recirc-source=\"\" --><\/p>\n<style type=\"text\/css\">\n<p>    .component - recirculation-type .item: nth-child (5) {display: none; 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Reducing the value of Russian assets, credit losses and &#8220;onerous&#8221; contract terms will reduce earnings in the first three months of the year by $ [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-19882","post","type-post","status-publish","format-standard","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shell says exiting Russia has already cost it as much as $5 billion - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/04\/07\/shell-says-exiting-russia-has-already-cost-it-as-much-as-5-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell says exiting Russia has already cost it as much as $5 billion\" \/>\n<meta property=\"og:description\" content=\"Shell says its decision to withdraw from Russia in response to the invasion of the country Ukraine it has already cost the international energy giant up to $ 5 billion. 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