British oil major to exit joint ventures with Gazprom after BP pledged to sell its 20% Rosneft stake
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Shell is to exit its joint ventures with Russian state energy firm Gazprom, a day after BP said it would offload its 20% stake in Kremlin-owned oil firm Rosneft, as British businesses scrambled to distance themselves from Vladimir Putin.
The oil company said it would “exit its joint ventures with Gazprom and related entities”, which are worth about $3bn.
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