French company TotalEnergies definitely withdraws from Myanmar


French company TotalEnergies said on Wednesday that it had definitively withdrawn from Myanmar, where many international companies have raised objections to the Myanmar government after the military seized power in 2021.

"In accordance with the contractual 6-month notice period, this withdrawal becomes effective on this 20 July 2022. This withdrawal was made in compliance with the European sanctions put in place in February 2022," said TotalEnergies.

Myanmar has been in turmoil since the military staged the coup last year, arresting civilian leaders including Aung San Suu Kyi. Its economy has also tanked since the coup, which halted a decade of political and economic reforms.