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TotalEnergies faces legal case for alleged ‘complicity’ in Russian war crimes (NYSE:TTE)

by Euro Times
October 14, 2022
in Markets
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HJBC/iStock Editorial via Getty Images

Two NGOs have filed a complaint in France against TotalEnergies (NYSE:TTE) for “complicity in war crimes” for allegedly helping fuel Russian planes that have bombed Ukraine, according to media reports Friday.

The Darwin Climax Coalition and Ukrainian group Razom We Stand accuse TotalEnergies (TTE) of exploiting a gas field used to manufacture kerosene used by Russian planes in their bombings in Ukraine, particularly in the March 16 strike on a Mariupol theater sheltering civilians which killed ~600 people.

The company rejected the accusations, calling them “outrageous and defamatory.”

TotalEnergies (TTE) until recently owned a 49% stock in Terneftegaz, a company that extracts gas from the Termokarstovoye field in northern Russia; the other 51% was held by Russia’s Novatek, in which the French company owns a direct 19.4% stake.

Separately, TotalEnergies (TTE) said Friday it has reached new wage agreements with labor unions CFE-CGC and CFDT, raising salaries by 7% plus a bonus, but the CGT union rejected the deal, holding out for a 10% pay rise.

The CGT called for a nationwide day of strike next Tuesday across French industry, railway and other sectors.

Some 30% of France’s gasoline stations are experiencing temporary shortages, as the strikes cripple fuel supplies across the country.



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Tags: allegedCasecomplicitycrimesFaceslegalNYSETTERussianTotalEnergiesWar
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