Wintershall Dea, one of the main European investors in the Nord Stream 2 gas pipeline, has said it will exit Russia following criticism over its continued exploration and production of gas and oil in the country following the invasion of Ukraine.
In a statement on Tuesday evening, Wintershall’s chief executive Mario Mehren said that operations in Russia, where Wintershall derived roughly a fifth of its pre-tax profit in the past financial year, were no longer “tenable” nearly a year into the conflict.
He said that “Russia’s war of aggression in Ukraine” had destroyed the possibilities for co-operation between Moscow and Europe, adding that it was also becoming more difficult to operate in the country.
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