Holdings in Rosneft could be hurt by EU curbs on exports of fuel production machinery, warns energy multinational
BP has warned investors that its finances and corporate image could be hurt by western sanctions against Russia.
The British oil and gas group is exposed to Russia via its 20% stake in Kremlin-controlled oil company Rosneft, a significant contributor to its profits which could be hit by EU curbs on exports of oil production equipment to Russia. BP revealed on Tuesday that it made $1.6bn (£950m) from its interest in Rosneft in the first six months of 2014, on top of a $700m dividend from Rosneft in July.