They're paying a full price relative to the value of other Russian oil assets. It's difficult to say now that he had a gun to his head.

Of itself, it won't have an effect on the share price.

Russia is saying you can't have your cake and eat it. If you're in the Russian sphere of influence, you get cheap energy. If you aren't, you don't.

Shell is profiting from the current high oil prices, but we are all paying the price. Oil companies must be forced to face up to their wider responsibilities - on climate change, on the environment and on human rights.

We are about to move into a new phase when Russian state-controlled energy companies are opened for investment with cooperative foreign firms. It makes sense to have someone with international experience ? either corporate or political ? leading that process at the head of those companies.

So much the better. The higher the price you have to pay, the more you will cherish it.