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France’s Total not to quit Russia unless EU sets sectorial sanctions

May 22, 2014, 17:59 UTC+3 ST. PETERSBURG

Total is one of main shareholders of Russia's gas producers

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ST. PETERSBURG, May 22. /ITAR-TASS/. France’s Total will not quit its projects in Russia unless EU authorities proceed with the third stage of punishment of Russia over the events in Ukraine and set sanctions targeted against the key sectors of its economy, CEO Christophe de Margerie said at the St. Petersburg International Economic Forum on Thursday.

Total holds about 19% in Russia’s independent gas producer Novatek, 20% in the liquefied natural gas project Yamal LNG, and 40% in the Kharyaginskoye oil field in the Nenets Autonomous District.

De Margerie said that the company is beyond policies, that is why he arrived to the forum.

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