TotalEnergies receives $748 million in dividends from Russia

TotalEnergies managed to receive around $748 million in dividends from its Russian assets in the first nine months of the year, the company said in a statement.

Speaking to analysts on a conference call, finance chief Jean-Pierre Sbraire said TotalEnergies had received around $349 million in dividends from its Yamal LNG venture in the third quarter, and $368 million from its Novatek shareholding in the second quarter.

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He said the group still has $6 billion of capital employed in Russia after writing down around $11 billion in the first nine months of the year.

The $3.1 billion Russia-related impairments booked in the third quarter were linked to write-downs on the company’s Novatek stake, he said.

It also reflected greater uncertainty on TotalEnergies’ ability to receive cash flows from Russia given Western sanctions, he added.