HOUSTON, May 1 (Reuters) - The U.S. State Department

believes oil services firm SLB has not violated

sanctions against Russia and the company has been told what

Washington is willing to accept, Assistant Secretary of State

Geoffrey Pyatt told Reuters in an interview on Wednesday.

"I have had conversations with the CEO of that company... I

think there is a clear understanding within SLB in terms of

where the guard rails are on the sanctions policy," Pryatt said.

Since Russia invaded Ukraine, the U.S. and other western

countries have sought to reduce Moscow's energy revenue through

sanctions that prompted many service companies to leave Russia.

SLB has helped Russia keep oil flowing, generating money to fund

the war.

"I am confident from my conversations with Treasury

colleagues that SLB's actions thus far have been in conformance

with rules that OFAC, Treasury and the price cap coalition have

set up," Pyatt said.

The U.S. is determined to ensure Russia does not return to

being a reliable energy partner and Washington will continue to

sanction present and future energy projects, while taking care

not to cause oil price shocks, said Pyatt.

SLB was not immediately available for comment. The company

had 10,000 employees in Russia helping Gazprom Neft, Rosneft and

other top energy firms pump more oil and gas when the war began

in 2022 and is the world's largest oil services and equipment

provider.

The U.S Treasury is also going after shippers, insurance

companies and others that circumvent the sanctions, said Pyatt.

He said Russia's oil and gas tax revenue is down about a

third year on year.

Washington is also targeting Russia's future energy

projects, including liquefied natural gas (LNG), seeking to

prevent Russia from sending the gas that previously flowed to

European customers via pipeline to global markets as LNG, said

Pyatt.

"So you have seen very strong sanctions against Novatek and

there is more to come in the short term on that score," he told

Reuters.