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France's TotalEnergies to halt Russia oil purchases by year's end

TotalEnergies Russia United States

TotalEnergies' headquarters in the La Defense business district outside Paris. © Reuters/Gonzalo Fuentes

French company TotalEnergies says it will stop all oil and oil-related purchases from Russia by the end of the year at the latest.

"Given the worsening situation in Ukraine and the existence of alternative sources for supplying Europe, TotalEnergies has unilaterally decided to no longer enter into or renew contracts to purchase Russian oil and petroleum products, in order to halt all its purchases of Russian oil and petroleum products as soon as possible and by the end of 2022 at the latest," the firm said.

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