US lawmakers push for harsher sanctions over Russian oil ties
Illustrative photo (Getty Images)
A bipartisan coalition in the US Congress has called on the Biden administration to tighten sanctions on Russia's oil services industry. Lawmakers argue that current measures allow the American company SLB to support Vladimir Putin's war machine, according to the Financial Times.
The US Congress also demands that the Treasury Department and the State Department explain why SLB imported $17.5 million worth of equipment into Russia between August and December 2023 despite existing sanctions.
This statement follows an investigation by the Financial Times, which revealed that SLB continued to expand its operations in Russia after Western competitors left.
Lawmakers emphasize that SLB, the world's largest oil services company, is contributing to financing the Russian military and are demanding stricter sanctions to limit Putin's revenues.
Neither the State Department nor SLB has commented, but the U.S. Treasury confirmed that it continues to use all tools to reduce Kremlin revenues.
On Friday, SLB reported a 13% profit increase for the third quarter.
SLB has previously faced US sanctions. In 2015, the company admitted to federal charges and paid $232 million for engaging in trade with Iran and Sudan.
In 2021, its US subsidiary, Cameron International Corporation, agreed to pay $1.4 million to the Treasury Department to settle "apparent violations" related to providing services to the Russian company Gazprom- Neft Shelf for an Arctic oil project.
Sanctions against Russia
The UK has expanded sanctions against Russia. The latest measures aim to increase pressure on Moscow due to the ongoing conflict in Ukraine.
The sanctions targeted Russia's Radiation, Chemical, and Biological Protection Forces and their head, Igor Kirillov. This decision was made amid accusations of the use of chemical weapons on Ukrainian territory.
Additionally, the UK imposed sanctions for the first time against vessels of Russia's so-called shadow fleet. These vessels, including Zaliv Amursky and SCF Pechora, are used to bypass Western oil sanctions and transport Russian oil to third countries.
