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TotalEnergies Doesn’t Plan to Divest Russia Assets, CEO Says (2)

March 26, 2022, 5:58 PM

TotalEnergies SE doesn’t plan to divest its Russian assets amid the war in Ukraine, as doing so would essentially mean handing them over to President Vladimir Putin’s regime, Chief Executive Officer Patrick Pouyanne said.

“For me it’s a question of accountability and the responsibility of the offshore stakeholders,” he said during a conference in Doha, Qatar on Saturday. “Do I give them for free to Mr. Putin? Because this is what it means ‘leaving today’ and giving my shares.”

The French energy major earlier this week said it will no longer sign or renew contracts to buy oil and petroleum ...