BP’s chief executive does not expect the latest batch of sanctions imposed on Russia by Washington to have an adverse impact on the oil major’s operations.
Bob Dudley did say the first 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 and gas companies.
BP holds a near-20% stake in Russian oil and gas producer 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 first half results, Mr Dudley said BP’s work in Azerbaijan and Egypt could have been impacted, were it not for the amendments.
Commenting on the sanctions, Mr Dudley said: “We are not aware of any material adverse effect on our current income and investment in Russia, or elsewhere, or our ability to work with Rosneft.”
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