Oil giant Shell has apologised for buying a shipment of Russian oil last week

The business say it will immediately stop all spot purchases of Russian crude oil

Oil giant Shell has apologised for buying a shipment of Russian oil last week at knock-down prices as it promised to slowly end its involvement in all Russian oil, gas and petroleum.

“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products like petrol and diesel – despite being made with security of supplies at the forefront of our thinking – was not the right one and we are sorry,” said chief executive Ben van Beurden.

The business said it will immediately stop all spot purchases of Russian crude oil and will shut its service stations, aviation fuel and lubricants operations in Russia.

Withdrawal from other associations with Russia will happen “in a phased manner, aligned with new government guidance”, the company said.

The announcement follows the withdrawal of several major international companies from Russia following its unprovoked full invasion of Ukraine.

Published: by Radio NewsHub