Australia energy company Viva has said today that it would stop buying Russian crude oil. Viva, which operates under the Shell group of companies, said it has made the decision to cease purchases of crude oil of Russian origin while the conflict continues in Ukraine.
Viva joins companies which are limiting, putting on hold, or exiting business activities in Russia following a wave of sanctions imposed on Moscow after Russian military operation in Ukraine.
Oil markets, particularly those in Europe, are scrambling to find alternative sources of oil as Russia contributes more than 10 percent of the world’s.