Euromaidan Press

News and Opinion from Ukraine and Europe on Military and Political Developments.

http://euromaidanpress.com/

Germany’s largest crude oil and natural gas producer to leave Russia.

Wintershall Dea, the biggest crude oil and gas producer in Germany, intends to fully exit Russia due to the Russian war of aggression against Ukraine, according to the official statement of the company.

The Wintershall Dea Supervisory Board approved a decision by the Management Board to exit Russia. As a consequence, Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable laws and regulations, the official statement of the company stipulates.

“Wintershall Dea will end its Russian activities. Continuing to operate in Russia is not tenable. Russia’s war of aggression in Ukraine is incompatible with our values and has destroyed cooperation between Russia and Europe. In recent months, limitations imposed by the Russian Government on operations of Western companies in the country and external interferences in our joint venture operations made it impossible for Wintershall Dea to operate in Russia as before and resulted in an economic expropriation of the Joint Ventures in Russia,” Wintershall Dea CEO Mario Mehren explained.

Wintershall Dea plans to deconsolidate Russian segment from financial reporting and record a one-off non-cash charge of 5.3 billion euros in the fourth quarter of 2023 relating to the deconsolidation as well as other Russia-related impairments.

Procter & Gamble continues sponsoring Russia’s war with two giant factories

Wintershall Holding GmbH, based in Kassel (Germany) is a subsidiary company of the BASF Group, which is a German multinational chemical company and the largest chemical producer in the world.

BASF Group will take a 7.3 billion euro writedown as its Wintershall Dea energy business pulls out of Russia, according to Reuters.

Related:

Ukraine needs independent journalism. And we need you. Join our community on Patreon and help us better connect Ukraine to the world. We’ll use your contribution to attract new authors, upgrade our website, and optimize its SEO. For as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

Tags: , , , ,

Який дизайн буде оточувати нас у діджиталі цього року .
Останні новини

EU to launch platform to fight Russian, Chinese disinformation.

The European Union will launch a new platform to counter disinformation campaigns by Russia and China amid growing worries, EU foreign affairs chief Josep Borrell said on 7 January, Politico reported. A so-called Information Sharing and Analysis C...

Euromaidan Press

Schumer responds to downing of Chinese spy balloon

Schumer responds to downing of Chinese spy balloon

Senate Majority Leader Chuck Schumer called Republican criticism of the incident “premature” and condemned what he called President Xi’s “brazen incursion.” » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innov...

Off-duty police officer shot during Facebook marketplace transaction.

Off-duty police officer shot during Facebook marketplace transaction.

Police say an off-duty officer, alongside a relative, arranged to meet a seller in Brooklyn on Saturday to buy a car advertised on Facebook marketplace. The suspect then displayed a gun and announced a robbery. Gunfire was exchanged, and the offic...

See what happened when Jordan Klepper went to a Trump campaign event.

See what happened when Jordan Klepper went to a Trump campaign event.

'The Daily Show' contributor Jordan Klepper shares what he saw and heard outside a Trump campaign event in South Carolina. #CNN #News

U.S. Navy combing 7-mile debris field for downed Chinese spy balloon

U.S. Navy combing 7-mile debris field for downed Chinese spy balloon

The balloon was shot down Saturday afternoon by a single missile from a F-22 fighter jet. Some lawmakers are praising President Biden for downing the suspected surveillance craft, while others are criticizing him for waiting too long to act. Now t...

Levin: Our country is under attack

Levin: Our country is under attack

Fox News host Mark Levin explores the weaponization of the FBI and the Justice Department on ‘Life Liberty & Levin.’ #foxnews #fox #levin Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24...

Toxic threat looms over eastern Ohio village after train derailment.

Toxic threat looms over eastern Ohio village after train derailment.

Sheriff’s deputies in East Palestine are still going door to door urging residents to evacuate. NTSB investigators say 20 train cars were carrying hazardous materials, 10 of which derailed. Officials say the air quality and the water supply remain...