PARIS (Reuters) – TotalEnergies announced on Tuesday that it would end its purchases of oil and petroleum products from Russia by the end of the year and that it was beginning to gradually suspend its activities in Russia, ensuring the safety of its personnel on site.
This announcement comes as the countries of the European Union have again discussed earlier this week the possibility of sanctioning the Russian oil sector in response to the offensive launched by Moscow in Ukraine last month.
In a press release, TotalEnergies also said that it was helping to ensure the security of the European continent’s energy supply, within the framework defined by the European authorities.
The group underlined its strict compliance with current and future European sanctions against Russia.
“Given the worsening of the situation in Ukraine and the existence of alternative sources to supply Europe, TotalEnergies is unilaterally taking the decision to no longer conclude or renew contracts for the purchase of Russian oil and oil products, in order to stop all purchases of Russian oil or oil products, as soon as possible and at the latest by the end of 2022”, reports TotalEnergies.
The group also indicated that it would no longer provide capital for the development of projects in Russia.
(Written by Jean Terzian, said by Matthieu Protard)