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2014-05-01 18:58:00

SHELL & RUSSIA: WON'T JUMP

SHELL & RUSSIA: WON'T JUMP

Oil majors are beginning to grow cool on new projects in Russia as U.S. and EU sanctions over Moscow's actions in Ukraine make investment increasingly risky and after the Kremlin's threat to review the West's role in Russia's energy industry, the world's largest.

"I don't think we will be jumping into new investments in the short term," Royal Dutch Shell's chief financial officer Simon Henry told a conference call on Wednesday.

The United States and the European Union imposed more sanctions on Russia this week as part of their drive to put pressure on Moscow for the annexation of Crimea and what they see as…

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Tags: SHELL, RUSSIA, BP, ROSNEFT, GAZPROM, TOTAL
Chronicle:
SHELL RUSSIA: WON'T JUMP
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