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TotalEnergies won’t work with Putin, refuses to write off Russian assets

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The CEO of TotalEnergies on Saturday defended the company’s refusal to fully exit Russia, but said it would never do business with President Vladimir Putin again.

Speaking to CNBC’s Hadley Gamble, Patrick Pouyanne, chairman and CEO of TotalEnergies, said he was not prepared to write off the company’s assets in Russia as it would effectively mean giving them to Putin “for free.”

“What do we do with the existing assets? … I am not ready to give them for zero to Russian people, to Russian oligarchs … because by the way, it would be contrary of the sanctions,” he said on a CNBC-moderated panel at the Doha Forum in Qatar.

“These assets are there, I will not give them for free to Mr. Putin….



Source cnbc.com

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