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Vladimir Putin in 2012 with the then ExxonMobil boss Rex Tillerson: The US company has so far been involved in the oil field in eastern Russia
Photo: Mikhail Klimentyev/ dpa
Even apart from formal sanctions, more and more companies are restricting their business relationships with Russia.
According to its own statements, the US aircraft manufacturer Boeing wants to stop supplying parts, maintenance and technical support for Russian airlines and important business activities in Russia.
"As the conflict continues, our teams are focused on keeping our colleagues safe in the region," a Boeing spokesman said.
The Airbus rival had previously suspended operations at its Moscow training campus and temporarily closed its office in Kyiv.
Other Western oil companies are also shutting down their business relationships with the country because of the Ukraine war.
The US oil company ExxonMobil announced that it intends to gradually withdraw from the operation of a large oil field in Russia.
"In response to recent events, we are beginning the process of cessation of activities and taking action to phase out the oil project."
Arctic project frozen for years due to sanctions
ExxonMobil has been operating the Sakhalin-1 oil field in the far east of the country since 1995 on behalf of a consortium including the Russian oil company Rosneft, an Indian company and a Japanese company.
The US group owns 30 percent of the shares in the project.
As ExxonMobil further announced on Tuesday, the group also no longer wants to invest in new projects in Russia.
Meanwhile, Italian oil company Eni has said it will withdraw from the Blue Stream gas pipeline between Russia and Turkey.
Eni holds 50 percent of the shares, the other half belongs to the Russian gas company Gazprom.
A company spokesman said: "Eni intends to sell its stake in Blue Stream."
In addition, Eni has hardly any business relations with Russia.
"Eni's current presence in Russia is marginal," the spokesman said.
Joint ventures with Rosneft associated with exploration licenses in the Arctic have been “frozen for years” due to the sanctions imposed on Russia since 2014.
The British-Dutch oil company Shell and the British BP group had previously announced their withdrawal from the Russian market.
Shell said on Monday it would divest its 27.5 percent stake in the Sakhalin-2 oil and gas project in Russia's Far East.
It will also end its 50 percent stake in the Salim oil field in western Siberia and the Gydan exploration project on the peninsula of the same name in northwestern Siberia.
Russia is trying to curb capital flight
Shell also intends to end its participation in the Nord Stream 2 pipeline in the Baltic Sea.
Shell is one of five energy companies involved in the controversial pipeline between Russia and Germany.
BP announced on Sunday that it was selling its Rosneft shares.
BP held a nearly 20 percent stake in the Russian oil company.
Among other things, the company also has a stake in the refinery PCK in Brandenburg, which is important for the German market. The Federal Ministry of Economics is currently examining the planned purchase of further shares.
French energy giant TotalEnergies announced on Tuesday that it would no longer invest in new projects in Russia.
However, the French at the same time stated that they do not plan to withdraw from ongoing projects.
Because more and more Western companies are withdrawing from Russia because of the sanctions, the Kremlin is preparing a presidential decree intended to prevent capital flight.
"In order to give companies the opportunity to make informed decisions, a draft presidential decree has been prepared to introduce temporary restrictions on the withdrawal of Russian assets," Prime Minister Mikhail Mishustin said on Tuesday.
Because of Russia's attack on Ukraine, the country was hit with numerous sanctions from the West.
The economic sanctions include the exclusion of Russian banks from the international Swift payment system and export restrictions for numerous branches of industry.
Apr/AFP/Reuters
