Halliburton suspends future Russian business
US oilfield services group Halliburton announced on March 18 it was immediately suspending future business in Russia, as it complies with sanctions that prohibit transaction and work, including for certain state-owned Russian customers.
Following the start of Moscow's invasion of Ukraine on February 24, Halliburton halted shipments of certain sanctioned parts and products to Russia. In its latest statement it said it would "prioritise safety and reliability as [it] wind[s] down remaining operations" in the country. It has no active joint ventures in Russia, it said.
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“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” Halliburton CEO Jeff Miller said in a statement. “Since the start of this conflict, we prioritised employee safety and compliance with all relevant sanctions.”
Halliburton's main rivals Baker Hughes and Schlumberger have also announced they will suspend further investments in Russia, but neither have committed to ending their existing operations there.