Shell Defends Crude Oil Purchase From Russia, Says no Alternative

The oil giant says the decision to purchase the fuel at a discounted price was difficult.

Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine. The oil giant said in a statement that the decision to purchase the fuel at a discounted price was “difficult.”

It confirmed that it had bought a cargo of Russian crude oil on Friday but it had “no alternative”. Ukrainian Foreign Minister, Dmytro Kuleba hit out at the energy company, asking on Twitter: “Doesn’t Russian oil smell Ukrainian blood for you?”

So far Western countries have not imposed sanctions on Russian oil imports, fearing it will drive up already record-high energy prices around the world. However, on Sunday, US Secretary of State Antony Blinken said the US was now in “active discussions” with European partners about banning them while also maintaining a “steady global supply.”

Russia is the world’s second top producer of crude oil after Saudi Arabia, and supplies about a third of Europe’s needs.