The list of companies leaving the Russian market is getting longer every day. The energy sector has been hurt the most so far. Shell, the British oil and gas company, has recently announced its decision to withdraw from the Nord Stream 2 project. “Our decision to exit is one we take with conviction. We cannot – and we will not – stand by,” Shell Chief Executive Officer Ben van Beurden said. Obviously, the mass exodus of European companies from Russia proves that Europe is ready to face losses in order to oppose Russia’s actions in Ukraine. Apart from leaving Nord Stream 2, Shell intends to exit the Sakhalin-2 project where the company holds a 27.5% stake. This partnership was intended to develop joint production of liquefied natural gas (LNG) on Sakhalin island. Earlier, Michael Harms, Executive Director of German Committee on Eastern European Economic Relations, said that the Nord Stream 2 gas pipeline was a promising project but now its launch has been delayed indefinitely.
