TotalEnergies will stop buying oil from Russia by the end of this year as the French oil and gas group steps up measures to cut ties with the country.
Under rising pressure over its continued presence in Russia following the departure of rivals, Total stopped short of setting in motion a full exit. Energy peers BP, Shell and ExxonMobil were among those who announced they would completely end their Russian ventures just days after Vladimir Putin sent troops into Ukraine.
The French company said on Tuesday that it would hold on to its minority stakes in two major liquefied natural gas plants as it saw no way of finding non-Russian buyers for the holdings.
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