Weatherford: Suspends New Investments and New Technology Deplyment in Russia

Girish Saligram, President and Chief Executive Officer, commented, “Our deepest sympathies go out to all those impacted by the ongoing crisis in Ukraine and sincerely hope that peace is restored soon to spare further hardship. Our primary focus is centered on the safety and wellbeing of our employees in the region.

“Since the crisis began, we have continued to evaluate our operations and have taken a number of actions in response. Following the implementation of sanctions on February 24, 2022, we placed a hold on shipments and immediately suspended making any new investments or deploying new technology in Russia. We have no active joint ventures or partnerships in Russia.

“We will remain in compliance with the evolving sanctions landscape and will continue to fulfill existing contractual obligations within applicable international laws and sanctions.

“We are deeply concerned about the crisis and urge a speedy diplomatic and peaceful resolution.”