U.S. Lawmakers Urge Tougher Sanctions on Russian Oil Operations

U.S. Representatives from both parties are pushing the Biden administration to impose stricter sanctions on Russian oil shipments, questioning SLB's continued operations in Russia post-Ukraine invasion. They argue that SLB's presence in Russia undermines efforts to cut Moscow's energy revenue, essential for financing its war efforts.

In a bipartisan move, dozens of U.S. Representatives have called on the Biden administration to intensify sanctions on Russian oil shipments. They specifically questioned an exception granted to SLB, the world's largest oilfield company, allowing it to continue operations in Russia amid ongoing political tensions.

Since the 2022 Russian invasion of Ukraine, the U.S. and its European allies have been striving to curtail Moscow's energy revenue, a major fund source for its military endeavors, through stringent sanctions. However, SLB has remained active in Russia, facilitating the continuation of its oil production.

The lawmakers highlighted that SLB has expanded its operations in Russia post-invasion, signing new contracts and importing significant equipment, thus aiding Russia's oil production and indirectly supporting its war activities. They emphasized the importance of stricter sanctions to weaken the Kremlin's war-ready economy.

(With inputs from agencies.)