World's largest oil trader Vitol Group plans to stop trading in russian oil
Vitol Group, the world's largest independent oil trader, intends to stop trading in russian oil by the end of 2022
This was reported by Bloomberg.
According to the publication, a company representative said that sales of russian oil in the second quarter will decline significantly because of a decrease in current contractual obligations.
The company plans to stop trading in oil and petroleum products from russia by the end of 2022.
Also, the company will not sign new agreements on russian energy.
"Vitol Group announced the cessation of trade in russian oil after the adviser to the President of Ukraine Volodymyr Zelenskyy Oleh Ustenko asked the company and other organizations to terminate business relations with the russian extractive industry," the company said.
This is needed in order to block the cash flow that helps finance the war in Ukraine, the newspaper said.
Earlier, the Verkhovna Rada, Shell, and Exxon Mobil announced the termination of work in russia and the exit from joint ventures with russian companies.
