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REVEALED: 7 | Vintage Vibes

BP and Shell lead rush to exit Russia. There can be no going back

Oil is always a political business, and there’s no point pretending otherwise

The Guardian - UK

Shell joins BP in selling Russian assets as pressure on Kremlin-linked firms grows

British oil major to exit joint ventures with Gazprom after BP pledged to sell its 20% Rosneft stake

The Guardian - UK

Shell faces pressure over Gazprom after rival BP pulls plug on $25bn Russia assets

ENERGY giant BP’s decision to sever links with Kremlin-controlled Rosneft has piled pressure on other oil majors to follow suit, with FTSE 100 rival Shell facing calls to dump its Russian assets.

Evening Standard

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BP offloads 19.75% stake in Russian oil giant Rosneft with immediate effect

BP is to offload its 19.75% stake in state-owned Russian oil giant Rosneft "with immediate effect" following President Putin's invasion of Ukraine

Daily Mirror

Russian central bank hikes rates and closes stock market as rouble crashes; oil and gas soar – as it happened

Commodities including wheat and aluminium surge and European stocks slide as markets respond to wider sanctions on Russia

The Guardian - UK

FTSE 100 Live: Sanctions trigger Russia financial markets turmoil, BP dumps Rosneft stake

The impact of sanctions against Russia today sent the rouble to its lowest ever level and prompted the country's central bank to lift interest rates to 20%.

Evening Standard

Andrew Forrest pulls back on Russian investments, while BP will dump Rosneft stake and Norway divests

Russia is being dealt more financial blows, with Australian billionaire Andrew Forrest pulling back on hydrogen investments there, while oil giant BP and Norway's sovereign wealth fund are also divesting from the country.

ABC News

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BP exiting stake in Russian oil and gas company Rosneft

BP says it's exiting its share in Rosneft, a state-owned Russian oil and gas company in reaction to Russia's invasion of Ukraine

The Independent UK

BP to sell stake in Russian oil giant Rosneft after Ukraine invasion

The oil giant’s chief executive Bernard Looney is also resigning from the Rosneft board.

The Independent UK

BP to offload 19.75% stake in Russian oil firm Rosneft

BP has surrendered its stake in the Russian company

Evening Standard

BP will divest stake in Russian oil giant Rosneft

BP CEO Bernard Looney will immediately resign from Rosneft's board.

Axios

BP abandons stake in Russian oil giant Rosneft with up to $25bn charge after Putin orders Ukraine invasion

Chief executive Bernard Looney is resigning from Rosneft’s board with ‘immediate effect’

The Independent UK

BP’s ties to Russia draw UK government ‘concern’

Oil firm holds 22% stake in Rosneft, run by Putin’s de facto deputy, and made $2.7bn profit from arrangement last year

The Guardian - UK

BP warned last year of impact on business if Russia hit with sanctions by West

The oil giant owns a nearly 20% stake in Russia’s Rosneft.

The Independent UK

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The Guardian - UK

Russian sanctions: who has been hit and who might be next?

From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions

The Guardian - UK

Which London-listed Russian firms could be hit by sanctions?

Exclusive: Firms with UK-traded shares paid the Russian government £39bn in taxes in 2020, so any sanctions would hurt

The Guardian - UK

BP can thank Moscow for plenty of its jackpot profits

Analysis: oil firm retains 20% share of Kremlin-backed Rosneft, which contributed a similar slice of BP’s $12.8bn windfall annual profit

The Guardian - UK

Ofgem admits failings over energy regulation, and warns Ukraine conflict would push bills higher – as it happened

Rolling coverage of the latest economic and financial news

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