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TotalEnergies Will Make No New Investments in Russia

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   |    Tuesday,March 01,2022

TotalEnergies will be making no new investments in Russia due to the country's invasion of Ukraine, but fell short of cancelling existing agreements and projects in the region.

The firm released the following statement:

"TotalEnergies condemns Russia's military aggression against Ukraine, which has tragic consequences for the population and threatens 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."

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