Shell oil company is buying up oil from Russia because it gets big discounts. Shell argues, this purchase provides a profit that will be dedicated as humanitarian aid to Ukraine.
On Friday (4/3), Shell purchased 100,000 metric tons of superior Ural crude from Russia. It was reportedly bought at a heavy discount with many companies avoiding Russian oil because of Moscow's unwarranted invasion of its neighbor.
But the purchase did not violate Western sanctions. Shell said it was in intensive talks with the government and was continuing to follow guidance on supply security issues.
"We are very aware that we are navigating this dilemma very carefully. We do not take this decision lightly and we understand the strength of the feelings surrounding it," a Shell spokesperson said, quoted by CNBC, Monday (7/3).
The company has faced strong criticism from Ukraine's Foreign Minister Dmytro Kuleba, who wants the company to cut all business ties with Russia.
"One question for Shell, doesn't Russian oil smell like Ukrainian blood to you?" Kuleba said in a tweet.
Kuleba gave a sharp statement to companies still doing business with Russia, saying that some of the big oil companies could find themselves on the wrong side of history.
“The world will judge them accordingly. And history will judge them accordingly," he said.
