U.S. Corporations Facilitated Russian Oil Supply Amid Ukraine Invasion

Major American oilfield services companies, including SLB (formerly Schlumberger), Baker Hughes, and Halliburton, supplied Russia with millions of dollars worth of equipment for months after its invasion of Ukraine, helping to sustain its oil and gas sector despite Western sanctions. While Baker Hughes and Halliburton wound down their operations in Russia several months after the invasion, SLB continued to sell technology there until recently. The imports from the top five US firms in the sector, including SLB, Baker Hughes, and Halliburton, amounted to over 5,500 items worth more than $200 million in the year following the invasion. The technology provided by these companies played a crucial role in maintaining Russia's oil production, which accounted for nearly half of its federal revenues in 2021.