Sputnik agency said: The British Shell announced that it was strongly forced to buy Russian oil.
“We have taken an urgent decision to obtain a shipment of Russian crude oil. Our refineries produce gasoline and diesel fuel, in addition to other products that people use on a daily basis, and we would like to continue this without interrupting the supply of crude oil to the refineries,” the company said in a statement.
He continued, “The energy industry will not be able to guarantee a stable supply of needed goods throughout Europe. Alternative sources will not be able to arrive quickly enough.”
Oil prices jumped above $119 a barrel on Thursday, continuing their rally since the Russian military operation in Ukraine, amid expectations that the market will continue to suffer from a shortage of supply.
The market will suffer from a shortage of supplies for several months following the imposition of sanctions on Moscow and the mass exit of investments by major companies from Russian oil assets.
Brent crude futures reached a peak of $ 119.3 a barrel in trading on Thursday, up $ 6.3, or 5.6%. US West Texas Intermediate crude futures also achieved their highest levels at $116.02 a barrel, up by $5.4, or 4.9%.