Exxon, Shell, and BP Say They’re Leaving Russia. Hold Your Applause.
This week, ExxonMobil, Shell, and BP announced they would step back from their longstanding business helping pump the products that make up 40 percent of Russia’s federal budget. Exxon was the latest, announcing on Tuesday that it would exit the oil and gas production facilities in Far East Sakhalin that it manages with the state-backed firm Rosneft, and end any future investments in the country amid escalating sanctions following its invasion of Ukraine.
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