US Company SLB Must Stop Fueling Russia’s War Machine, Says Ukrainian Energy Expert

After today’s revelations about the US oil services company SLB expanding its operations in Russia, despite the ongoing war in Ukraine, Founder and Executive Director of Razom We Stand, Svitlana Romanko, has issued a strong call for the United States to take immediate action to prevent its businesses from indirectly supporting Russia’s war efforts.

SLB, formerly known as Schlumberger, has reportedly continued to sign new contracts with Russia, even as other American companies like Halliburton have exited in response to Moscow’s unprovoked aggression against Ukraine. SLB’s continued operations are effectively fueling Russia’s military actions and contributing to the suffering of innocent Ukrainians. 

Despite the firm’s claim in July 2023 that it would halt “shipments of products and technology into Russia” from its global facilities, research by Global Witness and the Financial Times found that SLB continued to import materials from other sources, bringing in $17.5mn of equipment between August and December 2023, the most recent date of available records. These materials and technologies are vital to drilling operations and help prop up Putin’s war chest with profits from the oil and gas industry. 

“Every dollar that flows into Russia’s fossil fuel industry is a dollar that funds bombs, bullets, and horrific brutality against the Ukrainian people,” said Svitlana Romanko, Founder and Executive Director of Razom We Stand. “It is unconscionable that any company, particularly one based in the United States, would continue to aid and abet Russia’s fossil fuel production at a time when these revenues are directly financing the Kremlin’s war machine. Policymakers in Washington must decide: are they truly committed to supporting Ukraine, or will they allow American businesses to profit from a regime that is committing atrocious war crimes? By continuing to support Russia, SLB and others are not only undermining global peace efforts but are also contributing to the very violence that the world is trying to stop. This is a moral disgrace, and it must be immediately stopped.”

The Financial Times reported:

“Companies that stay are seen as loyal by the Kremlin and will be in line for medals in the form of preferential treatment when the war ends,” said Craig Kennedy, a Harvard-affiliated scholar and former vice-chair at Bank of America. This reminds one of Vladimir Putin’s previous awarding of the Russian Order of Friendship to former Trump Secretary of State and ExxonMobil CEO Rex Tillerson. 

Svitlana Romanko commented:
“What do SLB Executives want from Russia, another personal medal awarded to them by Putin himself?” 

Further background on SLB’s collaboration with Russia, as reported in Financial Times:

• Last year, Ukraine’s National Agency on Corruption Prevention (NACP) added SLB to an “international sponsor of war” blacklist
• SLB has shipped goods to Russia that would not have been allowed under existing European sanctions
• SLB has said it has no plans to leave Russia

ENDS

Razom We Stand is a Ukrainian organization active internationally. It calls for a total and permanent embargo on Russian fossil fuels and an immediate end to all investment in Russian oil and gas companies by phasing out fossil fuels globally.

Svitlana Romanko was previously quoted on the White House’s official website in response to the Biden administration’s decision to pause LNG exports and has appeared in top-tier international press, including Washington Post, CNN, NBC, AP, Politico, Bloomberg, The Hill, Financial Times, The Guardian, Der Spiegel, and Le Monde; a detailed list is here. 

For media enquiries, please contact: 

Paraic Walker 
International Communications Specialist Razom We Stand
[email protected]