The fact that Norwegian oil outfit Equinor has opted to withdraw from Russia as a result of the war in Ukraine could very well entail that all of the company's assets in Russia are lost.

So notes Equinor in its annual report Friday with the issue also being covered by Norwegian media Dagens Næringsliv.

Equinor has already announced that that the decision to exit Russia would affect the by USD 1.2bn. Now the oil giant states that there is a "risk that Equinor will not be able to extract value" from the Russian assets.

The company refers to trade restrictions and sanctions affecting the possibilities of this and that there is significant uncertainty related to the fall-out such as the possibilities of selling the assets, among other things.

Equinor expects that the company's departure from will reduce reserves by 88 million barrels of oil equivalent.

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