MOSCOW – The Russian General Prosecutor’s office was seeking to collect more than 1 billion euros ($1.09 billion) in damages from international energy major Shell (NYSE: SHEL), the RIA news agency reported on Tuesday, citing the Moscow Arbitration court.
Earlier this month, Russia’s Prosecutor General filed a lawsuit against eight units of Shell, which quit Russia following the start of Moscow’s military conflict with Ukraine in February 2022, according to the court’s website.
It cited Shell plc, Shell Energy Europe Limited, Shell Global Solutions International B.V., Shell International Exploration & Production B.V., Shell Neftegaz Development, Shell Exploration & Production Services B.V., Shell Sakhalin Services B.V. and Shell Sakhalin Holdings В.V. among the defendants.
Shell (NYSE: SHEL) had a stake in a liquefied natural gas-producing plant on the Pacific island of Sakhalin led by Kremlin-controlled Gazprom.
Moscow has consolidated its control over the plant in response to sanctions imposed by the West following Shell’s departure from Russia.
A hearing on the case was scheduled for December 11, the court said. Shell hasn’t immediately responded to a request for comment.
($1 = 0.9163 euros)
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
