BP dumps $20 billion stake in Russian oil company in protest of invasion

BP has held a 19.75 per cent stake in Rosneft since 2013. That stake is currently valued at $19.50 billion .

"Like so many, I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes out to everyone affected. It has caused us to fundamentally rethink BP's position with Rosneft," Looney said in a statement."BP has come under unprecedented pressure from both the regulator and its shareholders.

"The Rosneft holding is no longer aligned with BP's business and strategy and it is now the board's decision to exit BP's shareholding in Rosneft," Lund said in a statement. "Russia's unprovoked invasion of Ukraine must be a wake up call for British businesses with commercial interests in Putin's Russia," Kwarteng said in a tweet.

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9NewsAUS /  🏆 10. in AT

Their loss tbh

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