Baker Hughes, the third of the Big Four oilfield service companies, abandoned Russia

The international oil service company Baker Hughes has announced the suspension of new investments for operations in Russia amid the invasion of Ukraine. The Company continues to comply with applicable laws and sanctions in compliance with its current contractual obligations.

"The crisis in Ukraine is a matter of serious concern, and we strongly support the diplomatic decision. We condemn the violence and our hearts are on the people and families of the victims,” said Lorenzo Simonelli, Chairman and CEO of Baker Hughes. "The health and safety of our employees, customers, partners and their families has always been our top priority. We are constantly monitoring the situation, and today's announcement follows an internal decision made by our board of directors and brought to our leadership earlier this week. We remain determined to act in full compliance with international sanctions."

Earlier, Halliburton and Schlumberger also announced the termination of activities in Russia. So far, only Weatherford has not published its official position.