Halliburton Is Winding Down Russia Operations Amid Sanctions

Halliburton Co. said it’s winding down operations in Russia and will halt future business in the nation amid sanctions imposed in response to President Vladimir Putin’s invasion of Ukraine.

The world’s biggest provider of fracking is alone among the three major oilfield-service providers to publicly declare a pullout from one of the world’s largest crude producers. The Russian oil sector relies on foreign technology, gear and expertise to sustain domestic output of of the Kremlin’s key sources of revenue.