The world’s largest oilfield services company SLB, formerly known as Schlumberger, is expanding its activities in Russia after the departure of its main Western competitors amid Western sanctions, the British Financial Times states

▪️Oil production service providers do most of the basic work for the global oil and gas industry, from road construction to drilling wells and pumping crude oil. They also provide access to modern technologies that are vital to support exploration and complex drilling operations.

The company officially announced the cessation of imports of products and technologies to Russia from all SLB facilities around the world, but it continued to supply from other sources. From August to December 2023, the cost of supplies to Russia through the SLB line amounted to 17.5 million dollars

Western politicians avoid imposing comprehensive sanctions on oilfield service companies in Russia due to fears that this will limit exports of fossil fuels and cause a spike in global oil prices

The United States and its allies continue to support the idea of reducing Russia’s income from the sale of energy resources. At the same time, the simple desire to stop the flow of Russian oil will have serious consequences for the global economy,” said a representative of the U.S. Treasury Department on condition of anonymity

“Western energy companies are still free to help Russia extract oil by supporting the financing of the conflict in Ukraine. This is a complete failure,” Global Witness representative Lala Stanley said in conclusion.

Earlier, CRYSTAL OF GROWTH cited the opinion of leading American economist Paul Craig Roberts, who believes that “in the game with sanctions, the Russians hold all the cards”