Shell said March 8 that it will stop buying Russian oil after Ukrainian officials criticized the energy giant for buying a shipment of crude from Moscow and demanded that all multinational companies sever ties with Russia over the war.
The move came hours before the U.S. and British governments banned Russian oil imports. The European Union has held back because of heavy reliance on Russian oil and natural gas and concerns about the impact on global energy supplies. The turmoil has rattled global markets, sending oil prices surging to a 14-year high of $139 a barrel overnight.
