Oil-services company Halliburton Co. is in the spotlight following a report that more than $7 million of its equipment was imported into Russia following the company’s 2022 exit from the country.
While most of those exports ended by Oct. 6, 2022, the records show the shipment later that month of a sealing element from Malaysia to a firm called Sakhalin Energy, whose investors include Russian energy giant Gazprom, the Guardian reports. “The Russian demand for the high-end equipment in oil and gas extraction industries persists, so does the inability of Russian oil servicing companies to satisfy this demand,” said Olena Yurchenko, an adviser to the Economic Security Council, in a statement emailed to MarketWatch. “Therefore, even in the situation of a complete shutdown, the foreign companies must be vigilant for the evasion schemes and grey import which are buoyant around Russia nowadays.