- A Zelenskyy aide stated that BP is likely to receive “blood money”, from its stake in a Kremlin controlled firm.
- Rosneft is still owned by the company, which has a nearly 20 percent stake. It had previously stated in February that it would sell its holding.
- Insider was told by a spokesperson for BP that it had suffered a $24 Billion loss on its Russian investment.
One of Volodymyr Zilenskyy’s top aides said that BP was able to make “blood-money” from its stake at Rosneft, a Kremlin-controlled Rosneft.
In a letter that was seen by BBC NewsAnd The GuardianOleg Ustenko was the economic advisor to the Ukrainian president. He accused Oleg Ustenko as profiting from the Russian oil company’s near-20% holding.
A spokesperson for BP said that the company was not profiting from its Rosneft stake.
BP was established in response to Vladimir Putin’s February invasion of Ukraine. AnnouncedRosneft had promised it that it would be selling its 19.7% share, but it has yet to do so. Two Rosneft board members, one of which was nominated by BP, also resigned from their positions.
Rosneft’s bumper half-year profit was despite sanctions. This is despite the fact that oil prices have risen this year. $7 Billion. Ustenko stated that any money BP received from Russia could not be justified.
Per BBC News: Ustenko said, “This money is pure blood money, inflated profits made out of the murder of Ukrainian civilians.”
“BP was one of the first oil companies to announce that it would be leaving Russia by selling its share in Rosneft. Rosneft is the Kremlin’s oil company. Despite nine months of Russian aggression and war crimes, and the bombardment civilian infrastructure, BP is still a shareholder of Rosneft.
Insider was informed by a spokesperson from BP that the company suffered a $24.4 billion loss in the first quarter of 2022 through the writing down of Rosneft shares. However, annual profits would be $2B lower after removing contributions from Russia.
“BP is exiting Russia, we have no intention of returning to ‘business as usual’. Just three days after Russia’s attack on Ukraine, BP announced that we will exit our shareholding in Rosneft and other businesses in Russia – we said the attack was ‘a fundamental change.’ “This is still the position we have,” the spokesperson said.
BP’s ability in Rosneft to sell was hampered by sanctions imposed by western countries on Russian companies following the invasion.
Western governments continue to try to find a way for Russia to be effectively crippled by its largest economic weapon. The EU reached a deal on Thursday. $60-a-barrel price capRussian crude oil to try to decrease the Kremlin’s ability of selling oil.
