Russia is suing Shell for 1.5 billion euros ($1.6 billion) over allegedly unpaid gasoline provides to the state power massive Gazprom in 2022, the British-Dutch corporate stated in its annual record revealed Tuesday.
Shell introduced in early 2022 that it will sever ties with Gazprom, halt Russian crude oil purchases and withdraw from Russian power markets according to the full-scale invasion of Ukraine.
Consistent with the corporate’s annual record, Russian prosecutors filed a declare in a Moscow courtroom on Oct. 2, 2024, towards Shell and 7 of its entities. The lawsuit seeks to claim Shell’s go out from the Sakhalin-2 oil and gasoline undertaking in Russia’s Some distance East unlawful.
In July 2022, President Vladimir Putin ordered Sakhalin-2’s foreign-operated entity to get replaced with a Russian corporate that most effective allowed government-approved international traders.
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Shell stated Russian prosecutors need 1.5 billion euros in damages for Gazprom Export, together with 94 billion euros ($1.1 billion) from a unique account preserving international belongings that Western firms can’t get entry to with out a waiver.
Shell effectively filed to prolong court cases previous this 12 months, with the following courtroom listening to set for April 14.
The corporate stated it was once unclear how the case would spread or what monetary affect it would have.
“Right now, it isn’t conceivable to reliably estimate the magnitude and timing of any conceivable responsibilities or bills in appreciate of the issues above or whether or not any bills might be due,” Shell stated in its annual record.
“There stays a top level of uncertainty in regards to the final results, in addition to the prospective impact on long term operations, profits, money flows and Shell’s monetary situation,” it added.
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