In the past, the oil and gas company had planned to keep projects in Russia despite the war in Ukraine. The loss from the write-off of Russian assets will reach 5.3 billion euros.
The German oil and gas producer Wintershall Dea has announced its withdrawal from the Russian market. A message about this was published on the website of the concern on Tuesday, January 17.
“Continuing our business in Russia makes no sense,” said Wintershall Dea CEO Mario Mehren.
Wintershall Dea will divest its assets in Russia after fulfilling its current obligations.
The concern recalled that the government of the Russian Federation is restricting the activities of Western companies in the country, as a result of which the assets of Wintershall Dea in Russia were “virtually expropriated.”
The loss from the write-off of Russian assets will reach 5.3 billion euros.
According to Meren, with the outbreak of the Russian war against Ukraine, Wintershall Dea adjusted its financial structure and no longer considered activities in Russia when planning.
“Aggressive war is incompatible with our values. It destroys cooperation between the Russian Federation and Europe,” Mario Meren stressed.
Wintershall is suspected of being involved in the war in Ukraine
In April 2022, the oil and gas concern, despite the Russian war in Ukraine, planned to keep the projects in the Russian Federation, because a complete withdrawal from this market is “full of billions- billion losses.”
Later, Wintershall Dea became embroiled in a scandal – the concern was suspected to be related to the war. He was accused of providing the condensate that was used Gazprom in the production of fuel for Russian military aircraft. The oil and gas company has denied the allegations.
A source: Russian Service DW
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Source: korrespondent
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