TotalEnergies Pulls Plug On Russia: ‘Will No Longer Provide Capital For New Projects In Russia’

• To Provide Ukraine With Fuel, Aid

TotalEnergies, Tuesday, says it will no longer provide capital for new projects in Russia following the country’s military aggression against Ukraine which it said has tragic consequences for the population and threatens Europe.

BIGPENNGR reports that the French oil and gas giant, also said it will implement European sanctions regardless of the consequences on its activities in the country.

Condemning the war launched against Ukraine, the oil firm said it supports the sanctions put in place by Europe and is currently assessing the effect they will have on its activities.

The company also said it has mobilized to provide fuel to Ukrainian authorities as well as aid to Ukrainian refugees in Europe.

“TotalEnergies expresses its solidarity with the Ukrainian people who are suffering the consequences and with the Russian people who will also suffer the consequences.

“TotalEnergies is mobilized to provide fuel to the Ukrainian authorities and aid to Ukrainian refugees in Europe.

“TotalEnergies supports the scope and strength of the sanctions put in place by Europe and will implement them regardless of the consequences (currently being assessed) on its activities in Russia.

“TotalEnergies will no longer provide capital for new projects in Russia”, the company said in a statement on Tuesday.