Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Ukraine designates Weatherford oilfield service company int’l sponsor of war

In 2022, three subsidiaries of the Irish-American company Weatherford contributed over $15 million in taxes to Russia’s budget, Ukraine’s anti-graft agency reported.
Weatherford
Weatherford employees in Russia. Credit: weatherford.ru
Ukraine designates Weatherford oilfield service company int’l sponsor of war

Ukraine’s National Agency for the Prevention of Corruption (NAZK) has added the Irish-American company Weatherford to its list of international sponsors of war due to the company’s continued operations in Russia, according to the Agency’s statement.

According to NAZK, the oil extraction sector remains strategically important for Russia, as it allows the country to use energy resources as a weapon and influence other states. Despite sanctions imposed on Russia in this sector, Weatherford International continues to operate in the country, paying millions of dollars in taxes and providing technological capabilities to the aggressor state in the oil industry, the Agency stated.

Weatherford International specializes in producing and supplying oil extraction equipment and offering services to oil and gas enterprises. The company has been operating in Russia for 16 years, creating over 2,500 jobs and maintaining service enterprises, bases, and machine-building enterprises in the Russian Federation territory. In 2022, three manufacturer subsidiaries paid over $15 million in taxes to Russia’s budget, NAZK reported.

“Weatherford intends to continue fulfilling existing contracts and concluding new agreements with customers in Russia,” NAZK added.

Weatherford’s partner in Russia is the oil company Rosneft, which remains the main customer of its services. Weatherford also continues to be an active participant in import-export operations with Russia. From 24 February 2022 to 31 December 2023, it imported goods to Russia worth almost $1.5 million, including materials and spare parts for the oil and gas industry (fittings, valves, shafts, gaskets, plastic products, bearings).

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here


    Related Posts