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Shell to Stop Buying Russian Oil and Gas

  • Process is likely to take some time due to long-term contracts
  • Shell said its output of fuels could be reduced by the move
Fuel tanker trucks at the Shell Pernis refinery in Rotterdam, Netherlands.

Fuel tanker trucks at the Shell Pernis refinery in Rotterdam, Netherlands.

Photographer: Peter Boer/Bloomberg
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Shell Plc and BP Plc said they won’t make any new purchases of Russian oil and gas, but won’t be able to immediately to disentangle themselves from the country due to long-term contracts and the likely difficultly of finding alternative supplies.