Statement: Shell’s Surrender to Kremlin Pressure Undermines Shareholders’ Interests

This statement is currently being distributed via newswire. Royal Dutch Shell’s Surrender to Kremlin Pressure Undermines Shareholders’ Interests, Says Attorney Robert Amsterdam LONDON, December 14 – Following news of the dismissal of Russia’s chief environmental inspector, Oleg Mitvol, just two days after Shell’s offer to give up a majority stake in the Sakhalin-2 project to the Russian government, Attorney Robert Amsterdam issued the following statement: “This decision on behalf of Royal Dutch Shell to give in to the extortion of the Russian government is a betrayal of not only their shareholders’ interests, but also an abandonment of those who fight for rule of law,” said Amsterdam. “The Kremlin’s theft of Sakhalin-2, carried out with Yukos-like tactics and veiled by ostensible concern for alleged environmental violations, deserves a stout response from Western corporations, banks, governments – not the complicity and silence currently promoted by the Dutch.” “The environmental concerns at Sakhalin are just one component of Russia’s established expropriation template, illustrated by the hypocrisy of the North European Gas Pipeline planned for the Baltic Sea, which poses the clearest environmental threat of all Russian energy projects. Not only has Shell given up the largest foreign investment project in Russia without a real fight, they have contributed to Europe’s weakening energy security and emboldened the Kremlin’s impunity to rewrite contracts, ignore property rights, and harass and interfere with foreign investors of its choosing.” Robert Amsterdam is the founding partner of Amsterdam & Peroff, and represents the former Yukos CEO Mikhail Khodorkovsky. This statement represents his personal views. Mr. Amsterdam writes a blog at www.robertamsterdam.com.