Halliburton (NYSE:HAL) faces questions over trade with Russia, as The Guardian reported Monday that more than $7M of its equipment was imported into Russia since it announced the end of operations in the country last year.
The oilfield services company sold its Russian office to local management a year ago following pressure on U.S. companies to cease operations in the country after the invasion of Ukraine, but The Guardian reported that in the six weeks following the sale, Halliburton (HAL) subsidiaries exported equipment worth more than $5.7M to the company’s former operation in Russia, citing Russian customs records.
Imports of Halliburton (HAL) equipment to Russia reportedly resumed in December 2022 from two unrelated companies, bringing the total value of exports of Halliburton equipment to Russia since the company closed its operations to at least $7.1M, according to the report.
Exports of Halliburton (HAL) equipment to Russia continued until at least the end of June, the report said; more recent records are not yet available.
There was no suggestion that any of the companies breached the sanctions regime of the U.S. or its western partners.