Core Viewpoint - SLB's acquisition of ChampionX Corp. for $7.8 billion aims to enhance its portfolio amid aging shale fields, while the company faces scrutiny for its continued operations in Russia despite sanctions [2][5][6] Group 1: Acquisition and Market Position - SLB agreed to acquire ChampionX Corp. for $7.8 billion in an all-stock deal, which will strengthen its position in the oilfield services market [2] - The acquisition is seen as a strategic move to provide better technology to U.S. drillers as they seek to maintain oil and gas production from aging shale fields [2] Group 2: Continued Operations in Russia - Despite U.S. sanctions imposed in January 2025, SLB has been reported to continue transferring proprietary drilling technology to Russian manufacturers as late as February 2025 [3][4] - SLB generated $1.4 billion in revenue from Russia in 2024, accounting for approximately 4% of the company's global total, indicating a significant ongoing presence in the Russian market [6] - The company has been criticized for its role in the Russian oil-service market, occupying 8% and contributing over $4.5 billion in taxes to the Russian economy [5][6] Group 3: Regulatory and Enforcement Challenges - SLB operates through a complex corporate structure that complicates U.S. enforcement of sanctions, allowing it to navigate regulatory gray areas [12][15] - The enforcement of sanctions has reportedly loosened under the current political climate, providing SLB with more flexibility in its operations [13][14] - The company has been actively recruiting young Russian engineers, suggesting a long-term commitment to its operations in Russia [9]

Core Viewpoint - A Russian policymaker is advocating for the regulation of cryptocurrencies due to significant traffic from Russia to international crypto exchanges, highlighting the need for state oversight of digital assets [1][2]. Regulation and Legislation - Yevgeny Masharov emphasizes the urgency of launching legislation to regulate cryptocurrency circulation, proposing that all transactions outside licensed platforms should be illegal and suggesting criminal liability for illegal transactions [2]. - Current crypto trading in Russia is unregulated, with the Central Bank previously advocating for a complete ban, while the Ministry of Finance prefers regulation and taxation of profits [4]. Factors Driving Adoption - The weakening ruble, capital controls, and international sanctions have accelerated the adoption of cryptocurrencies in Russia, serving both legitimate financial needs and, in some cases, sanctions evasion [3]. - Data from TRM Labs indicates that most Russian crypto activity remains lawful, reflecting a global trend of increased digital asset adoption due to necessity and financial pressure [3]. Concerns Over Unregulated Platforms - There are concerns regarding the Telegram app, which allows users to access crypto wallet services, enabling transactions outside regulatory scrutiny and anti-money laundering measures [5]. - Masharov insists that crypto trading should be restricted to regulated financial institutions, such as the Moscow Exchange and major banks [5]. Traffic Data Insights - Russian IP addresses accounted for up to 28% of traffic to the crypto exchange Bybit in October, with 4.9 million visits from Russia out of a total of 17.5 million [6].