ECONOMY


Norway’s Equinor to stop trading in Russian oil, petroleum products

Baku, March 16, AZERTAC

Norway’s oil and gas firm Equinor (former Statoil) will stop trading in Russian oil and petroleum products, according to a statement posted on the company’s website, TASS reports.

"Following the announcement that Equinor has started the process to exit its projects in Russia, a decision has been made that Equinor will also stop trading in Russian oil. This means that Equinor will not enter any new trades or engage in transport of oil and oil products from Russia," the statement said.

Earlier, the company said it had stopped purchases of Russian oil as part of the process of exiting its operations in the country over the situation around Ukraine.

On February 28, Equinor said it had decided to withdraw from joint ventures in Russia and stop new investments in the country.

 

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