French energy giant TotalEnergies said on Tuesday that it would stop buying Russian oil and oil products by the end of 2022 at the latest, according to a press release from the company.
Europe is talking about joining the Russian oil embargo"Given the worsening situation in Ukraine and the existence of alternative sources of supply for Europe, TotalEnergies has unilaterally decided not to enter into or renew any contracts for the purchase of Russian oil and oil products, in order to stop all purchases of Russian oil or oil products as soon as possible and by the end of 2022 at the latest," the statement said.
The company said it will mobilize oil products from other places, especially diesel produced by the Satorp refinery in Saudi Arabia.Read MoreTotalEnergies' contracts for Russian oil accounted for 12% of Russia's diesel exports to the European Union in 2021, according to the statement.
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