Trafigura leaves the Russian Vostok Oil project

International energy trader Trafigura intends to withdraw from Russia’s VostokOil project, which is controlled by Rosneft. This is stated in the press release of the company.

“Trafigura will continue to fully comply with all subsequent sanctions packages. In addition, the group froze its investments in Russia and announced its intention to withdraw from the Vostok Oil project, which owns 10%, “ said in a statement of the company.

The company also notes that they do not see the possibility of positive changes in the near future. “Looking to the future, we do not see weakening in difficult market conditions. Global supply chains remain disrupted and the geopolitical situation will remain volatile, ”the company said.

Earlier, Trafigura stopped all oil trade with Russian sanctioned companies until May 15, 2022 and “significantly reduced” the purchase of Russian oil products.