Halliburton and Schlumberger suspend operations in Russia

And “Halliburton” company indicated, on Friday, the suspension of its future business in the country, as the company complies with the ban on dealings and work, including with some Russian state-owned companies, explaining that it “will prioritize safety and reliability while reducing its remaining operations in Russia.”.

Halliburton said it halted all shipments of specific sanctioned parts and products to Russia several weeks ago, noting that it does not have active joint ventures there..

Schlumberger also announced, on Friday, that it “immediately suspended investments and deployment of technology for its operations in Russia,” adding that it would continue to closely monitor this “dynamic” situation..

“Safety and security are at the heart of our identity as a company, and we urge all parties to stop the conflict and restore security and safety in the region,” Schlumberger CEO Olivier Le Bosch said, according to the Associated Press.

As the war continues and the deadly violence and humanitarian crisis escalates, the remaining companies are under increasing pressure to stop doing business in Russia.

More than 400 US companies and other multinationals have withdrawn from Russia, either permanently or temporarily, according to Jeffrey Sonnenfeld, associate dean of executive programs at Yale University School of Management, who has published a list of companies’ actions in Russia..

Oil companies BP, Shell and ExxonMobil, along with a number of major technology companies such as Dell and Facebook, were among the first to announce their withdrawal or suspension of operations.

A group of other companies followed, including McDonald’s, Starbucks, Estée Lauder, and others..

Ukrainian President Volodymyr Zelensky called on Congress, on Wednesday, to put pressure on American companies that are still operating in Russia to stop their activities there, saying that the Russian market is “soaked in our blood.”