Trafigura has revealed it has frozen its Russian investments, and is now reviewing its options for the group’s 10 per cent stake in Kremlin-backed project Vostok Oil.
The commodities trader said: “Trafigura unconditionally condemns the war, the violence in Ukraine and the humanitarian crisis this is causing.”
Energy and commodities firms are under increasing pressure to divest from Russian projects following its invasion of Ukraine.
BP, Shell, Exxon Mobil and Equinor have all revealed plans to exit stakes in the country, while Total Energies has no plans for fresh investment.
The firm has an office with a number of full-time staff in Ukraine, and has confirmed it is actively looking to assist them as conflict escalates in the country.
It also outlined that it does not operate any assets in Russia, and has no directors or corporate officers in any external Russian entity.