World Economy

de Margerie was Critical of Russia Sanctions

de Margerie was Critical of Russia Sanctionsde Margerie was Critical of Russia Sanctions

Sanctions against Russia are counterproductive and stability should be restored to provide more investment to the country, Total CEO Christophe de Margerie said during his last speech in Moscow before he died in a plane crash.

In his 40 years at the French company de Margerie forged close links with Russia, recently calling to continue “business as usual” and “not to build new Berlin walls,” RT reported.

He will be remembered for his colorful character and his ability to break into markets regardless of politics.

“In general I’m against sanctions. I’ve repeated this many times. You heard that. And I’ve become not very popular in my country as I was often blamed for promoting our own interests. I don’t like sanctions as such because I think they are both unfair and counterproductive,” Christophe de Margerie told the Consulting Council on Foreign Investment into Russia hours before his death.

He stressed that political issues should have political solutions and businesses shouldn’t suffer.

“If we want to maintain stable and long-term inflow of foreign investment into Russia, we must restore a stable and peaceful economic area between Russia and other countries,” the Total boss said.

Total SA is France’s second-biggest listed company, with a market value of €102 billion ($129.4b), as well as one of the top foreign investors in Russia.

“Can we live without Russian gas in Europe? The answer is no. Are there any reasons to live without it? I think – and I’m not defending the interests of Total in Russia – it is a no,” he told Reuters during the summer.