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SLB (NYSE:SLB) said Friday halt all shipments of products and technology to Russia “in response to the continued expansion of international sanctions.”
The world’s largest provider of oilfield equipment – formerly Schlumberger – says Russia’s ban now applies to all of its operations worldwide, not just the UK, US, European Union and Canada.
SLB (SLB) currently has 9,600 employees working for leading Russian oil and gas companies such as Gazprom and Rosneft; these jobs account for 5% of the company’s ~$28 billion annual revenue.
The company has been criticized for continuing to work in Russia’s oil sector since the invasion of Ukraine in February 2022.
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