TotalEnergies said it will terminate its Russian oil supply contracts, including crude supplies for the Leuna refinery in Germany and purchases of gasoil, no later than the end of 2022.
The respective statement was published on the company's website.
The company has also decided to put on hold its business developments for batteries and lubricants in Russia.
“After the serious and unfounded accusations of "complicity in war crimes" leveled against TotalEnergies, the Company shares with its stakeholders its principles of conduct regarding its Russian related businesses in order to allow them to understand how our Company is acting in a responsible manner. Considering the worsening conflict, TotalEnergies is also taking new steps … To act responsibly, as a European company and in accordance with its values, TotalEnergies has defined clear principles of conduct for managing its Russian related business: Ensure strict compliance with current and future European sanctions, no matter what the consequences on the management of its assets in Russia, and gradually suspend its activities in Russia, while assuring its workforce's safety,” the Company said.
“Given the worsening situation in Ukraine and the existence of alternative sources for supplying Europe, TotalEnergies has unilaterally decided to no longer enter into or renew contracts to purchase Russian oil and petroleum products, in order to halt all its purchases of Russian oil and petroleum products as soon as possible and by the end of 2022 at the latest,” the French company said in a statement on Tuesday.
TotalEnergies has stated that it does not operate any oil and gas fields or any liquefied natural gas (LNG) plants in Russia.
The Company is a minority shareholder in a number of non-state-owned Russian companies: Novatek (19.4%), Yamal LNG (20%), Arctic LNG 2 (10%), and TerNefteGaz (49%).
"TotalEnergies had only 11 secondees in these companies as of 24 February 2022, and only 3 seconded expatriates are in Russia as of today. TotalEnergies has thus initiated the gradual suspension of its activities in Russia, while assuring its teams’ safety,” the Company said.
Earlier this month, Swiss energy service company Weatherford International announced the suspension of supplies and new investments in Russia after the imposition of sanctions against the country.
Also, Crypto exchange Binance blocks Russian banks targeted by sanctions.