Shell end all ventures with Russian companies, pulls out of Nord Stream 2

Shell is ending all its ventures with Russian companies, with chief executive Ben van Beurden condemning its invasion of Ukraine as a "senseless act of military aggression," the BBC reports.

It will sell its stakes in joint ventures with Gazprom, Russia's majority state-owned energy company, including a 27.5% stake in a major liquified natural gas plant.

The decision comes after BP decided to offload its share of a state-owned oil firm, Rosneft.

Shell also plans to end its involvement in the Nord Stream 2 gas pipeline from Russia to Germany, which it helped finance along with a collection of other companies. Germany has already halted the project.

The company said it would take a hit to its balance sheet, with its ventures with Gazprom valued at about $3bn (£2.3bn).

"Our decision to exit is one we take with conviction. We cannot - and we will not - stand by," van Beurden said.

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