TotalEnergies intends to stop its lubricants business in Russia by May

The French energy company TotalEnergies plans to stop its lubricants business in Russia by the end of April, head of the company Patrick Pouyanne said during a teleconference, Report informs citing TASS.

TotalEnergies respects the contract with Novatek for Yamal LNG and will fulfill it as long as the sanctions allow it, Pouyanne said.

Earlier, TotalEnergies reported that it would completely stop purchasing Russian oil and oil products no later than the end of 2022, and would no longer allocate funding for Novatek's Arctic LNG-2 project, in which it owns 10%.