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Russia: Failure of Schlumberger-EDC deal will not affect foreign investment

By  |  February 19, 2019

US Schlumberger’s failure to buy shares in Russian Eurasia Drilling Company (EDC) over anti-Russian sanctions will not be a negative signal for other foreign investment, Deputy Head of the Russian Federal Antimonopoly Service (FAS) Andrey Tsyganov told Sputnik in an interview.

In early February, Schlumberger revoked its bid for purchase of EDC stock after it did not get approval fromRussia’s regulatory bodies. According to FAS head Igor Artemiev, the antitrust service and the company “had come to a conclusion that it was not the proper time” for the deal.

“I am by no means in favor of a specific transaction being perceived by foreign investors as a general negative signal of enormous deterioration of the investment climate, political regime or higher risks of doing business.

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