Equinor stops trading Russian oil

In the financial year 2021, Equinor had assets in Russia worth USD 1.2bn. A farewell to the Russian market is therefore expected to lead to major write-downs for the Norwegian oil firm.

Photo: Equinor ASA

Norwegian oil outfit Equinor halts all business involving Russian oil, the company states in a press release Monday.

This means that, on the whole, Equinor ”will not enter any new trades or engage in transport of oil and oil products from Russia,” the company writes.

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