Shell will lose $4-5 billion due to the termination of activities in Russia

Due to the termination of activities in RUSSIA, Shell will lose assets worth $4-5 billion, the company's press service reports.

“In the first quarter of 2022, the impact of impairment of non-current assets and incremental costs (such as write-offs of receivables, expected credit losses and onerous contracts) associated with operations in Russia is expected to be between $4 billion and $5 billion after tax,” — company predicted.

However, it is specified that these losses will not affect the adjusted profit. Shell will provide details in its first quarter report, which will be published on May 5.

According to earlier estimates, the losses from leaving Russia were estimated at $3.4 billion, reports CNBC.

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