Shell is set to take a $4 to $5 billion hit from exiting Russia in the wake of its invasion of Ukraine, the company announced on March 7. The oil giant announced early in March that it planned to pull the plug on operations in Russia and would exit its joint ventures with Gazprom, the Russian state-owned energy corporation, and its related entities, and withdraw from the 50 percent stake it holds in Salym Petroleum Development and the Gydan energy venture, two projects in Siberia. The company would also depart with its 27.5 percent stake in the Sakhalin-II liquefied natural gas (LNG) facility off Russia’s east coast, it said. Previously, Shell said it intended to end its involvement in the controversial Nord Stream 2 pipeline project. In a statement on Thursday, Shell said it will write off between $4 and $5 billion in the value of its assets following the move. “For the first quarter 2022 …