Ukraine Decries TotalEnergies’ Russia Dividend as ‘Blood Money’

Ukraine Decries TotalEnergies’ Russia Dividend as ‘Blood Money’

By Jenny Strasburg and Nick KostovUpdated Sept. 1, 2022 12:20 pm ET

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PARIS—French energy company TotalEnergies SE is coming under pressure from Ukraine’s government to waive a dividend worth hundreds of millions of dollars from a Russian natural-gas giant as Europe braces for a winter without ample supplies of the fuel.

Oleg Ustenko and Mykhailo Podolyak—top advisers to Ukrainian President Volodymyr Zelensky—sent a letter to TotalEnergies Chief Executive Patrick Pouyanné on Thursday asking what he planned to do with the $440 million dividend the firm stood to reap from its 19% stake in PAO Novatek.

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