US Congress pressures for stronger sanctions on Russia

US Congress questions equipment supply by SLB amid concerns of sanctions evasion and global oil market stability. A bipartisan coalition in the US Congress has called on the Biden administration to tighten sanctions against Russia’s oilfield services industry. Congressmen demanded that the US Department of the Treasury and the State Department clarify the situation with the supply of equipment to Russia by SLB for $17.

5 million in the period from August to December last year. Since December 2023, SLB has posted over 1,300 vacancies in Russia. The company said it complies with the sanctions regime, and the hiring of employees is related to the replacement of personnel due to staff turnover.



The US Treasury Department emphasized that American companies are prohibited from making new investments in Russia. According to the publication, the majority of the imported equipment—worth $13 million—came from China, and another $3 million came from India, which does not apply similar sanctions restrictions. The reports.

Before this, the US decided not to react to the circumvention of sanctions by China and the UAE, which continue to actively purchase Iranian oil despite the restrictions. About 80% of Iranian oil exports go to China, and most payments are made in yuan. American authorities refrain from tougher measures, fearing destabilization of the global oil market.

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