U.S. oil giant ExxonMobil stops Russian operations over Ukraine invasion
U.S. oil giant, ExxonMobil, says it will discontinue its current operations in Russia over the country’s invasion of Ukraine.
“In response to recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture,” it announced in a statement.
ExxonMobil added, “We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people. We are deeply saddened by the loss of innocent lives and support the strong international response. We are fully complying with all sanctions.”
Continuing, the statement stressed, “ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation.”
The U.S. concern operates the Sakhalin-1 gas project on behalf of an international consortium of Japanese, Indian and Russian companies.
ExxonMobil has been in Russia for decades and holds 30 per cent of the Sakhalin-1 project.
The U.S. firm further said with the current situation, it would not invest in new developments in Russia.
(dpa/NAN)
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