Shell to lose $5 billion because of the Russia exit

Shell might lose $5 billion due to the company's decision to leave Russia

Shell reported that it will write down up to $5 billion after its decision to leave Russian market, while growth of oil and gas prices provoked trading activities in the first quarter.

The post-tax impairments that are estimated between $4 billion and $5 billion won't affect Shell's revenue, the company mentioned ahead of its earning announcement on May 5.

Earlier Shell said that the Russian write downs were estimated to be $3.4 billion. The increase is linked to the additional potential impacts around contracts, writedowns of receivables, and credit losses in Russia, a Shell representative said.

Shell's market capitalisation is around $210 billion.

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