Shell has released its first quarter 2022 results, announcing a post-tax impact from impairment of non-current assets and additional charges relating to Russia activities of US$4bn to US$5bn. In March 2022, the group pledged to exit its joint ventures with Gazprom and related entities, including its 27.5% stake in the Sakhalin 2 LNG export project and its 50% stake in the Salym Petroleum Development and the Gydan energy venture. The group also announced that it would withdraw from Russian hydrocarbons, including crude oil, petroleum products, gas and LNG in a phased manner. In a first step, the company, which has not renewed longer-term contracts for Russian oil, and will only do so under explicit government direction, will stop all spot purchases of Russian crude oil, removing Russian oil volumes from its crude oil supply chain, and it will shut its service stations, aviation fuels and lubricants operations in Russia.