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World’s largest oil services company SLB halts all product supplies to Russia

World’s largest oil services company SLB halts all product supplies to Russia
Oil services giant Schlumberger Limited will now stop deliveries from all company locations worldwide, not only from the UK, US, EU, and Canada. Earlier, it tried to ride out the effort to sanction Russian oil and gas.

Oil services giant Schlumberger Limited (SLB) announced it will cease supplying all products and technologies to Russia from its global facilities in response to expanded international sanctions over the war in Ukraine.

In a statement, the world’s largest oilfield services company said the move continues its prior halting of supplies from the US, UK, EU, and Canada to Russia after the invasion began. SLB stated it will now stop deliveries from all company locations worldwide as more countries widen sanctions.

Since March, SLB has voluntarily wound down Russian operations and pledged no new investments or deployment of technologies there. Significant resources have been devoted to ensuring compliance with various international laws, the company noted.

SLB stressed its serious commitment to adhering to export control and economic sanctions laws, while remaining aligned with the global community in condemning Russia’s war in Ukraine and urging its cessation.

The decision comes after SLB previously made operational and structural changes to try to preserve its Russian business as it attempted to ride out efforts to curb Russia’s use of energy to finance its war against Ukraine.

Ukraine’s National Agency on Corruption Prevention added SLB to its list of international sponsors of the war in May.

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