Oil Spikes & “Recession’s Handmaiden”
Squawk Pod
00:00
Shell and Russian Oil
Shell announce ind intends to immediately stop buying russian crude on the spot market and will not renew nenu term contracts. Shell came under pressure over the week end from buying a heavily discounted consignment of oil from russia, despite saying it would commit the profits towards humanitarian aid for ukraine. The company apologized for purchasing that oil and said it was a wrong decision. But this just shows you how quickly this has turned. And even though there may not be official agreement anywhere from the united states or europe at this point in terms of saying, we're going to band russian imports, you're ging to fel a pressure no matter who you are, a company away with
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