Shell Says It Bought Russian Oil After Government Talks
- Company will divert Russia profits to humanitarian fund
- Urals deal shows lack of Russia alternatives for energy buyers
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After taking a barrage of criticism for buying a cargo of Russian crude, Europe’s largest oil company Shell Plc says it’s navigating the market with government guidance.
“We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said in a statement on Saturday. “We have been in intense talks with governments and continue to follow their guidance around this issue of security of supply.”