LONDON, Dec 9 (Reuters Breakingviews) - TotalEnergies (TTEF.PA) took its time before realising it would be impossible to sell its stake in Russian gas company Novatek (NVTK.MM).
One of them, Gennady Timchenko, is known as a 30-year friend of Russian President Vladimir Putin.
As Total notes, it cannot abide by a shareholder agreement giving the owners preemption rights on the stake, since Timchenko is hit by Western sanctions.
Fine, but as long as Pouyanné clings to his Yamal project in Siberia, Total’s Russian exit remains piecemeal.
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