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US sanctions of Russia have «no adverse effect» on BP

01 August 2017 , 18:00Mark LammeyNeftegaz.RU541

BP’s CEO does not expect the latest batch of sanctions imposed on Russia by Washington to have an adverse impact on the oil major’s operations, he said on August 1, 2017.

 

Bob Dudley did say the 1st draft of the new sanctions bill was «full of unintended consequences» for BP and its business interests, even those outside Russia.

He said the bill had been redrawn to remove many aspects that could have dented oil & gas companies.

 

BP holds a near-20% stake in Russian Rosneft, which is headed by Igor Sechin.

Mr Sechin has been targeted by earlier rounds of sanctions imposed on the Kremlin for its alleged involvement in the Ukraine conflict.

 

The latest penalties are a response to Russia’s alleged interference in the 2016 US Election.

During a conference call on BP’s 1st half results, Mr Dudley said BP’s work in Azerbaijan and Egypt could have been impacted, were it not for the amendments.

 

He said: «I am not aware of any adverse effect on our investments in Russia and our ability to work with Rosneft

 

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