TotalEnergies: will no longer provide capital for new projects in Russia

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The logo of French oil and gas company TotalEnergies at a petrol station in Reze

PARIS – TotalEnergies said it will no longer provide capital for new projects in Russia.

“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,” it said.

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

(Reporting by Sarah Morland; Editing by Sudip Kar-Gupta)

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