RUSSIAN OIL INDUSTRY
ATTITUDE OF AMERICANS
COMPANIES REFUSE TO DEAL
HEAVY BLOW TO SOVIET
DISTRESSED OILFIELDS
By Telegraph—Press Assn.—Copyright.
Rec. 10 p.m. London, Aug. 14. The Daily Telegraph says the Shell and Standard Oil Companies have decided not to deal in Russian oil directly or indirectly. This is a heavy blow to the Russian scheme to obtain large credits in America in order to fill the depleted Soviet Treasury. Shell and Standard negotiators decided it was useless to look to Moscow for a reasonable agreement. The decision will entail a loss to the Russian Government of at least £5,000,000 annually. The trouble is increased by the fact that the Soviet oil industry in the last six months has experienced a virtual breakdown. The Government has 'been forced to release a number of oil specialists from prison and send them to distressed oilfields.
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Bibliographic details
Taranaki Daily News, 15 August 1933, Page 7
Word Count
142RUSSIAN OIL INDUSTRY Taranaki Daily News, 15 August 1933, Page 7
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