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- Journalist: Would you prefer politics to stay out of business? - Pouyanne: You know you can't. Politics and economics, all that is linked. But again, Russia is the largest country of gas, we are here, we are developing, we continue to invest in very large projects, Yamal a new gas province. It's a question of managing risks and Total because we are a major company, is able to manage risks and to maintain its commitment to Russia." The CEO of the Total assured his company "is committed to Russia" despite France freezing Russian assets, at the St. Petersburg International Economic Forum, Friday. Pouyanne said that one needs to bear in mind that oil and gas is a long-term industry and hence Total continues to "invest in very large projects" and cooperate with Russia. In fact, the CEO of Russian oil company Rosneft Igor Sechin just signed an agreement to acquire a 16.67 percent stake in one of Total's oil refineries in Germany. The deal between the oil companies was signed despite the imposition of Western sanctions on both Rosneft and Igor Sechin last year. In the last few days, France and Belgium have frozen Russian state assets, demanding Moscow pay compensation to shareholders of the now bankrupt oil company Yukos.
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