• The oil giant estimates that selling its Russian assets could result in a loss of up to $5bn (£3.8bn).
• Russia is one of the biggest producers of oil in the world.
• In exchange for leaving the Russian market, Shell will end its joint partnerships with Gazprom.

Oil tycoon Shell has acknowledged that selling its Russian assets may result in a loss of up to $5 billion (£3.8 billion), which is part of its intentions to leave the nation.

Although the company has promised to stop buying oil, any agreements made prior to the invasion of Ukraine will be honoured.

In exchange for leaving the Russian market, Shell will have to end its joint partnerships with Gazprom.

When Shell purchased Russian crude oil at a low cost soon after the conflict started, it drew criticism.

The corporation apologised and promised to stop purchasing oil from Russia in reaction to the outcry.

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