Energy giant Shell has bowed to pressure to exit all joint ventures with Russian oil firm Gazprom, ditching stakes in three major gas projects and the undersea pipeline Nord Stream 2 worth a total of USD 3 billion, writes standard.co.uk.

CEO Ben van Beurden said: “We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security.

Our decision to exit is one we take with conviction. We cannot - and we will not - stand by”.