The German oil and gas giant Wintershall Dea is leaving Russia.
This is stated in the press release of the company.
CEO Mario Mehren stated that continuing operations in Russia is impractical. He also emphasized that ‘Russia’s aggressive war in Ukraine is incompatible with the company’s values and has destroyed cooperation between Russia and Europe.’
It is noted that in the IV quarter Wintershall Dea deconsolidated all its Russian assets. The related costs were estimated at 5.3 billion euros. In addition, enterprises related to Wintershall Dea in Russia were economically expropriated.
Earlier it was reported that the chairman of Wintershall does not expect the expropriation of assets in Russia and expects that Moscow will continue to comply with contractual obligations.
