TotalEnergies to ‘gradually withdraw’ from Russian investments

World's fifth-largest oil firm finally bows to pressure after invasion of Ukraine, removing representatives from Novatek board

TotalEnergies, the world's fifth-largest oil company, has finally bowed to international pressure after the invasion of Ukraine and announced that it intends to gradually withdraw" from its Russian investments.

The French oil giant said on Friday, it would remove its two representatives from the board of Novatek, Russia's dominant private gas exporter.