Houston-based Weatherford International continues to expand its operations in Russia, despite US sanctions aimed at limiting American companies from doing business in the country.
Growth of Weatherford's Revenue and Assets in Russia
In the first half of 2025, Weatherford generated 7% of its $2.4 billion revenue from Russia, an increase from 5% in the previous year. As of the end of June 2025, its Russian operations held $332 million in assets, up from $233 million at the end of 2024. Following the announcement of new sanctions, the company published around 100 job listings in Russia.
Competitive Analysis in the Russian Market
Following Russia's invasion of Ukraine in 2022, two major competitors of Weatherford, Baker Hughes and Halliburton, ceased their operations in Russia. Conversely, Weatherford has continued to expand its activities, even as Washington attempts to restrict US companies' operations in Russia. Another major player, SLB (formerly Schlumberger), remains active in the country.
Response to Sanctions and Political Aspects
In light of pressure from Congress, a group of over 50 lawmakers called for tighter restrictions to halt operations of companies such as SLB in Russia. One prominent voice was Representative Lloyd Doggett, who emphasized that American companies' presence in Russia assists in funding the conflict. He also stated that a stronger response from Washington towards the Kremlin is necessary.
Weatherford's ongoing operations in Russia reflect the ever-changing landscape of sanctions and competitive dynamics. While other major players are exiting the market, the company has chosen to remain, seemingly strengthening its position.
