Equinor Affirms Its Compliance with Russian Oil Sanctions

Equinor Affirms Its Compliance with Russian Oil Sanctions

In opposition to Russia’s invasion, Equinor has announced that it will not enter into any deals related to trading or transporting oil and oil products from Russia.

This announcement came following the previous one that the company is proceeding to exit from its projects in Russia.

Equinor noted that these decisions are part of its withdrawal from Russia and involve having a comprehensive overview of all relevant aspects, which includes legal obligations.

However, the company elaborated that it has certain commitments to contracts signed prior to the invasion. This includes contracts signed in January 2022, under which Equinor will receive four oil cargoes in March.

“Two of these [cargoes] are sold on to customers in Asia. The third is a naphta cargo that will be delivered to an Equinor contracted storage facility. The fourth is a feedstock cargo to be delivered at the Mongstad refinery in Norway,” it said in Equinor’s statement.

Moreover, Equinor asserted that receiving these cargoes is in full compliance with current sanctions.

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