SLB reported that its net assets in Russia amounted to approximately $600 million at the end of 2024, a figure unchanged from 2023. However, revenue generated from the Russian region experienced a decline during the year.
The company's Chief Executive Officer, Olivier Le Peuch, stated that SLB's current business operations in Russia align with new U.S. sanctions. Revenue from Russia accounted for 4% of SLB's total revenue in 2024, down from 5% in the previous year.
This update provides clarity on SLB's financial exposure and operational adjustments in Russia following the 2022 invasion of Ukraine. The company continues to review new sanctions and has taken voluntary measures to align its business with restrictions.
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