Germany's Wintershall Dea, Europe's leading independent oil and gas company, has announced its withdrawal from Russia, the company's CEO says.

“Over the years, we have built many personal relationships in Russia – including in our joint ventures. But the foundations of our work in Russia have been shaken to the core. As a European company, continuing to operate in a state that is waging war against Ukraine, its people, and our European values, is untenable,” the statement reads.