French petroleum giant to restrict cooperation with Russia's Lukoil

Russia's fuel company Lukoil and French petroleum company Total discuss restricting their cooperation. The cooperation between the two giants is to be restricted over Western sanctions that affected the oil and gas industry of Russia.

On August 1, the United States and the EU banned the supply of equipment for deep-sea oil exploration and production, work in Arctic and shale oil deposits in the Russian Federation. Last month, the sanctions were tightened and specific companies were named - Gazprom, Gazprom Neft, Rosneft, LUKOIL and Surgutneftegaz.

On September 23, Total announced the suspension of cooperation with LUKOIL in the field of joint development oil fields in Western Siberia against the backdrop of Western sanctions against Russia.