Investing.com -- TotalEnergies generates approximately $400 million in annual revenue from selling liquefied natural gas cargoes sourced from Russia's Yamal LNG plant, the company's CEO told analysts during a results call on Thursday.

The French oil company has maintained its stakes in Russian LNG facilities since Moscow's 2022 invasion of Ukraine, though it deconsolidated these holdings. This means the revenue no longer appears in the company's official financial reporting.

European Union countries currently import record-high volumes from Yamal, Russia's largest LNG plant. The EU plans to ban these imports starting next year under its sanctions framework.

"There are two activities...the lifting of cargoes, on this one we have direct access to the cash booked by our UK entity. The magnitude of this business is an average of $400 million, but it goes up and down because the contracts are linked to Brent (oil prices)," CEO Patrick Pouyanne said.

Brent crude prices have reached multi-year highs due to supply disruptions caused by the war in Iran.

The company also receives income from dividends on its 20% ownership stake in Yamal LNG and a 19.4% stake in Yamal's parent company Novatek, Pouyanne said.

"Some cash flows have been distributed, but not the full of it... It's from time to time, and there's not an easy way to do this because we respect sanctions and sanctions in Europe have limited the capacity to transfer from Russia to Europe," he added.

Pouyanne did not provide a figure for the amounts repatriated to date. In 2024, he stated that dividends from Novatek represented about $600 million per year but were stuck abroad.