Shell says in talks to sell Russian retail business

A check out shows a board with the emblem of Shell at the firm’s gas station in Saint Petersburg, Russia Might 6, 2022. REUTERS/Anton Vaganov

LONDON, Might 6 (Reuters) – Shell (SHEL.L) claimed on Friday it is in talks to provide its community of petrol stations and lubricant plant in Russia as the British enterprise forges in advance with its designs to exit the state subsequent Moscow’s invasion of Ukraine.

Forward of the possible sale, Shell has suspended operations at its filling stations and the Torzhok lubricant plant, Sergey Starodubtsev, the company’s head in Russia explained in a statement.

He also confirmed that negotiations were underway.

It was unclear who the likely consumer was but sources explained to Reuters it would most most likely be a neighborhood business.

Main Government Ben van Beurden explained on Thursday that Shell was in talks to promote its Russian retail business.

Shell wrote down $3.9 billion article-tax as a result of its conclusion to exit operations in Russia, which include things like a stake in a big liquefied natural fuel (LNG) plant. browse more

Reporting by Ron Bousso, Enhancing by Louise Heavens

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