More than 50 members of Congress are pushing the U.S. government to impose tougher sanctions on Russian oil. They are also questioning an exception that allows the U.S.-based oil-services company Schlumberger (SLB) to continue operating in Russia.
Representatives Lloyd Doggett (D-Texas) and Jake Auchincloss (D-Massachusetts) announced on October 21 that they, along with 50 other lawmakers, sent a letter addressing the issue. The letter claims that the exemption allows Schlumberger to act as an “accomplice to Vladimir Putin,” according to a release from Doggett’s office.
The letter, signed by 52 lawmakers and sent to Treasury Secretary Janet Yellen and Secretary of State Antony Blinken, highlights that since Russia invaded Ukraine in February 2022, Schlumberger has signed new contracts, hired hundreds of staff, and imported nearly $18 million in equipment to Russia.
“This U.S.-based company is keeping Putin’s war machine well-funded,” the letter states. It urges the government to enhance oil sanctions to effectively limit Putin’s profits and continue supporting Ukraine.
Auchincloss emphasized the importance of tightening sanctions, stating that oil is essential to the Russian war economy. He called for accountability for Schlumberger and others who evade sanctions and profit from the war.
Since the conflict began, the U.S. and Europe have used sanctions to diminish Russia’s energy revenue, leading many oil-field-service companies to exit Russia. However, Schlumberger has remained active.
The lawmakers acknowledged the significance of Russian oil in the global market but argued that allowing Russia to access Western technology and expertise only strengthens its oil sector and extends its ability to finance its military actions.
In response to the letter, the U.S. Treasury Department reaffirmed its commitment to reducing the Kremlin’s revenues. A spokesperson stated that U.S. firms are prohibited from making new investments in Russia and that all sanctions would be enforced.
SLB has not yet responded to requests for comment.
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