French energy giant TotalEnergies will no longer equity account for its 19.4% stake in the Russian natural gas producer Novatek. The French company decided to withdraw its two directors from Novatek’s board on Friday with immediate effect. Consequently, Total will record impairment charges of around $3.7 billion for the fourth quarter of this year. TotalEnergies’ decision to withdraw its representative from the Novatek board follows the European sanctions in force since the beginning of the war that force them to abstain from voting in the board meetings, in particular on financial matters. To…