Oilfield services company Calfrac Well Services suspending any investments in Russia

Calfrac Well Services Ltd. says it is suspending any investments in Russia.

The company says despite the fact that the provision of parts and equipment are not restricted by sanctions, it cancelled shipments that were bound for Russia when the country invaded Ukraine.

It has also cancelled any future shipments of parts and equipment into Russia.

READ MORE: NHL moves to suspend business ties with Russia over Ukraine invasion

Calfrac says its Western-based employees involved with its Russian operations are currently not in Russia.

The company joins a long list of Canadian companies that have suspended operations in Russia in response to the country’s war against Ukraine.

Calfrac provides specialized oilfield services to exploration and production companies in Canada, the United States, Argentina and Russia.

Story continues below advertisement

Click to play video: 'The number of consumer giants suspending business in Russia is growing' The number of consumer giants suspending business in Russia is growing

The number of consumer giants suspending business in Russia is growing – Mar 9, 2022

© 2022 The Canadian Press

View original article here Source