Activists urge Shell boycott after it snaps up discounted Russian crude, as energy giant says profits will go to Ukraine

Online activists have called for a boycott of energy giant Shell following its purchase of 100,000 metric tons of  discounted crude oil from Russia.

The purchase was revealed amid announcements that scores of Western firms were pulling operations from Russia over its military assault on Ukraine.

"Boycott Shell, they purchased at $28.5 below market price per barrel profiting from the war consequences!" read a tweet from the hacker group Anonymous on Saturday.

Thousands of others also tweeted in support of boycotting the energy firm, which appeared to backtrack on a pledge to exit ventures in Russia.

"It’s time to boycott all Shell products. When most companies are deliberately avoiding #Russia and pulling their business, ⁩ @Shell swoops in to grab a bargain, putting money INTO Russia," wrote one Twitter user.

"I guess it's time to boycott Shell until they do the right thing.." said another.

Last Monday, Shell appeared to be joining efforts to pressure Moscow over its invasion of Ukraine when it announced it would withdraw from its joint venture in Russia.

"Our decision to exit is one we take with conviction," he said.

"We cannot - and we will not - stand by," Shell Chief Executive Ben van Beurden said in a statement.

On Friday, however, it was revealed that the firm had bought 725,000 barrels of Russia's flagship crude at a discount of $28.50 to the global oil benchmark, Brent.

It is estimated that the firm will make $20 million in profit from the fuel.

Amid criticism, Shell said it would designate profits for a humanitarian fund for Ukraine.

"We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply," read a company statement quoted by CNBC.

Other countries and companies have also ruled out a boycott of Russian energy due to Europe's dependency on Russian gas.