A bipartisan coalition in the US Congress called on Joe Biden's administration to strengthen sanctions against the Russian oil service industry. Current restrictions allow the large American company SLB to support the dictator Putin.
Points of attention
- The US Congress is calling for stronger sanctions against Russia's oil service industry because of its cooperation with Putin.
- SLB continues to expand operations in Russia, despite international sanctions due to the invasion of Ukraine.
- The US has imposed new sanctions against companies from China and Russia involved in the production of drones used in the war in Ukraine.
- The US Treasury Department supports the use of all tools to reduce the Kremlin's revenues and complicate the functioning of its military machine.
- US sanctions have led to restrictions on Chinese and Russian companies whose cooperation led to the development and production of drones used by the Russian Federation in the war in Ukraine.
SLB continues to expand its activities in Russia
As the publication notes, the congressmen turned to the Treasury Department and the US State Department with a demand to explain whether the Biden administration authorized the agreements under which the SLB company (formerly known as Schlumberger) imported $17.5 million worth of equipment to Russia between August and December of last year year
SLB is the largest oil service company in the world.
The congressional demand comes after a Financial Times investigation in August found that SLB continued to expand its operations in Russia, taking advantage of the departure of Western competitors, despite international sanctions over Russia's invasion of Ukraine.
This American company supports Putin's war machine by financing his barbaric invasion of Ukraine, according to a letter signed by more than 50 members of Congress and addressed to Secretary of State Anthony Blinken and Treasury Secretary Janet Yellen.
The State Department and SLB declined to comment. The US Treasury emphasized that it remains committed to using all tools to reduce the Kremlin's income and complicate the functioning of its military machine.
American companies are prohibited from making new investments in Russia, and we plan to apply all sanctions against companies that fall under our jurisdiction, the Ministry of Finance said.
The USA introduced new sanctions against the Russian Federation and China
On October 17, the United States Ministry of Finance announced the introduction of sanctions against a network of companies from China and Russia involved in the development and production of long-range Harpy drones, which the Russian Federation uses in the war against Ukraine.
The "Harpy" project was designed and developed by specialists from the People's Republic of China. These drones are manufactured at factories in China in cooperation with Russian defense companies before they reach the Russian Federation and are then used in Ukraine.
Thus, US sanctions have been imposed against the Chinese company Xiamen Limbach Aircraft Engine Co., Ltd., which produces the L550E engine for Harpy drones.
In addition, the Redlepus Vector Industry Shenzhen Co Ltd organization, which is with the Russian defense industry, as well as the Russian company Vector Trading House and its director Artem Yamshchikov, are included in the list of restrictions.
