Equinor Completes Exit From All Russian Joint Ventures

Equinor ASA (EQNR), a Norwegian petroleum refiner, said on Wednesday that it has completed its exit from all joint ventures in Russia.

With this move, the refiner has now transferred its participating interests in four Russian JVs to Rosneft and is released from all future commitments and obligations.

In addition, it has also inked a deal to exit the Kharyaga project.

As announced in February, the company has already halted all new investments into Russia, stalled trading oil and gas products from Russia, and also declared an impairment charges of $1.08 billion as of March 31.

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