TotalEnergies to Stop Buying Russian Oil, Funding Arctic LNG
- French major will import more diesel from Saudia Arabia
- Company says full exit of Russia would enrich local investors
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TotalEnergies SE said it will stop buying Russian crude and diesel by the end of the year, becoming the latest energy giant to shun the country’s oil in protest against the invasion of Ukraine.
The announcement marks a further effort to reduce financial flows to the regime of President Vladimir Putin as punishment for the attack on his neighbor.