BP Says New Sanctions on Russia Appear to Target Access to Markets

Reuters

LONDON, July 17 (Reuters) – BP said on Thursday it was studying the latest sanctions against Russia and that on first impression they appeared to focus on restricting access of sanctioned entities to U.S. medium and long-term debt and equity capital markets.

BP has a stake of just under 20 percent in Russian state-controlled oil major Rosneft and generates a quarter of its oil output from Russian oil fields. It is also one of the biggest buyers of Russian oil.

On Wednesday, U.S. President Barack Obama imposed the toughest sanctions yet on Russia, targeting companies closest to Russian leader Vladimir Putin over what Washington says is Moscow's failure to curb violence in Ukraine.

(Reporting by Dmitry Zhdannikov; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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