facebook
twitter
rss
account
search
search
 

BP reviewing Russian role after sanctions

BP owns 19.75 percent of Russian oil company Rosneft.
By Daniel J. Graeber   |   July 18, 2014 at 9:05 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-4941405687662/2014/1/c3f10901d0076e2fcd6e89b350e94db5/BP-reviewing-Russian-role-after-sanctions.jpg
MOSCOW, July 18 (UPI) -- With a minority stake in Russian oil company Rosneft, a spokesman for BP said the company is reviewing the latest round of U.S. sanctions on Russia.

BP owns a 19.75 percent stake in Rosneft. Vladimir Buyanov, a spokesman for BP in Russia, told the ITAR-Tass news agency the company was taking a look at the potential impacts of U.S. sanctions

"We are currently studying the situation with new sanctions the United States has imposed on Russia," he said Thursday.

Rosneft, Russian independent gas producer Novatek and the financial arm of Russian natural gas Gazprom were included on the list of sanctioned entities earlier this week.

U.S. Undersecretary for Terrorism and Financial Intelligence David Cohen said the sanctions were enacted because "Russia has failed to meet the basic standards of international conduct" in its response to lingering crises in Ukraine.

BP and Rosneft signed $1.5 billion deal for the supply of oil products in June. Rosneft Chief Executive Officer Igor Sechin was sanctioned by the U.S. government earlier this year.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Scrap South Stream, Europe says Scrap South Stream, Europe says
2
New F-35 sustainment system undergoing flight testing New F-35 sustainment system undergoing flight testing
3
Apple to authorities: No iPhone user data, even with a warrant Apple to authorities: No iPhone user data, even with a warrant
4
Boeing to build new passenger spacecraft for NASA Boeing to build new passenger spacecraft for NASA
5
BAE Systems introduces new mine-protected vehicle BAE Systems introduces new mine-protected vehicle
Trending News
Video
x
Feedback