Halliburton winding down Russian operations

Halliburton Co. said late Friday it has suspended future business in Russia as it complies with sanctions following the invasion of Ukraine. “Halliburton will prioritize safety and reliability as we wind down our remaining operations in Russia,” the oilfield services company said in a statement. The company halted all shipments of certain parts and products to Russia a few weeks ago. The move follows the exit of several of the largest and better-known U.S. companies out of Russia, including Exxon Mobil Corp. and McDonald’s Corp. . Halliburton said it has no active joint ventures in the country. “The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” Chief Executive Jeff Miller said in a statement. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.” A Yale professor has kept tabs on the companies still operating in Russia, with the list including oilfield services companies Schlumberger Ltd. and Weatherford International Plc. as of late Friday. Shares of Halliburton were up 0.3% in the extended session Friday, after ending the regular trading day up 0.4%.

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