“As regards the joint and equal participation with Gazprom in the Blue Stream gas pipeline, Eni intends to proceed with the sale of its stake,” a company spokesman said, noting that “Eni’s current presence in Russia is marginal.”

“The existing joint ventures with Rosneft, linked to exploration licenses in the Arctic area, have already been frozen for years, also due to the international sanctions imposed starting from 2014 “ the spokesman added.

The decision came after major oil companies, including “Shell” and “BP”, announced their withdrawal from Russia-linked projects due to Moscow’s invasion of Ukraine.

The company has a 50 percent stake in the Blue Stream gas line pipeline, which connects Russia with Turkey via the Black Sea.

The company controls the gas pipeline equally with Russian energy giant Gazprom. (ILKHA)