Italian oil giant Eni has refused to participate in the Blue Stream gas pipeline, which is used to transport natural gas to Turkey from Russia.

Eni intends to sell its 50% stake in the company, a company spokesman said, Agence France-Presse reports.

Global energy companies including Shell and BP have also announced they are pulling out of projects in Russia or with Russian companies due to the conflict in Ukraine.

French energy giant TotalEnergies is no longer providing capital for new projects in Russia, but will not abandon ongoing projects.