U.S. oil field companies Halliburton and Schlumberger said they were suspending or suspending operations in Russia in response to U.S. sanctions related to the Russian invasion of Ukraine, Reuters reported.
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The agency added that these decisions came after many energy, retail and consumer goods companies in Russia suspended their activities, and after a series of EU and US sanctions to supply oil technology to Russia or import its energy products.
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Halliburton and Schlumberger suspend operations in Russia
Halliburton said it will immediately suspend future operations and will cease operations in Russia upon completion of parts and product deliveries.
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Schlumberger has stopped implementing new investments and technologies, but continues to operate in line with international regulations and sanctions, the company said in a statement.
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“We are calling for an end to the conflict and the restoration of security in the region,” said Schlumberger CEO Olivier Le Peuch, quoted by the Reuters Agency.
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Oilfield service provider Baker Hughes declined to comment on its operations in Russia, Reuters reported.
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Energy companies BP PLC, Shell, Equinor ASA i Exxon Mobil suspended operations or announced plans to exit Russia.
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Russia, which it calls its invasion of Ukraine “special military operation”, is one of the world’s largest oil and gas producers, exporting between 7 and 8 million barrels of crude oil and petroleum products per day. Its energy activity relies heavily on domestic service providers, Reuters reported.
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Companies operating in Russia
In a speech published on Friday, Ukrainian President Volodymyr Zelensky said that all Western companies should leave the Russian market and “not cover their desire for profit with cheap PR”. Among these companies, the Ukrainian president mentioned Auchan and Swiss Nestle.
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Also on Monday, Ukraine’s Foreign Minister Dmytro Kuleba called on international companies – which have not yet taken such a decision – to close their operations in Russia. He just mentioned Auchan among them. He also stated that those companies that decided to stay in Russia should be boycotted.
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The list of companies that have not decided to exit or limit their activities in Russia is updated daily by the Yale University team led by Jeffrey Sonnenfeld. On March 20, there were 30 companies on the list – apart from Auchan, these were, among others AstraZeneca, Asus, Bose, Credit Suisse, Decathlon, Emirates Airlines, Koch Industries, Leroy Merlin, Oriflame Cosmetics, Raiffeisen, Renault and Subway.
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photo-source">Main photo source: Shutterstock
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