TotalEnergies To No Longer Provide Capital For New Projects In Russia

TotalEnergies said Tuesday it will no longer provide capital for new projects in Russia.

TotalEnergies said in a statement that it 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.” the company said.

In the statement, TotalEnergies added that it 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,” the company said.