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Trafigura complies with sanctions – but is still present in Russia

Trafigura has halted investment Russia, and reconsiders minority ownership of a Russian oil outfit – but has not yet withdrawn from the market. The commodity trader made big gains in the first half of 2022.

Photo: PR/Trafigura

Trafigura has cut down on its activities in Russia since the country invaded Ukraine on Feb. 24, but the international commodity trader maintains its activities in the market, shows the company’s interim report for the first half of its fiscal 2022, which ended in late March.

Whereas Trafigura ceased all crude oil trading with sanctioned Russian companies before May 15, with the group now only supplying petroleum products to European customers, the trader has thus far maintained passive investments in Russia, the statement shows.

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