BP is selling its 19.75% stake in Rosneft, the Russian state-owned oil company due to the Ukraine invasion.
BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia’s “act of aggression in Ukraine.”
The oil giant had come under pressure from the UK government to make the move since Thursday’s invasion.
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It has held the shareholding in the Russian company since 2013.
The Sanctions And Pressure Are Growing On Putin
It is becoming impossible to see how Russia wins in the invasion of Ukraine. Putin could overpower his neighbors with military might, but the cost of that success would be a total devastation of the already feeble Russian economy.
BP’s move to get out of doing business with the Russians is likely to be the first of many more to come from corporate America. It turns out that invading neighboring countries and killing innocent people makes global corporations a little skittish about doing business with the Putin regime.
With each passing day, the situation will only grow direr for Putin and Russia. The invasion is taking longer than Putin thought it would. Russian forces are bogged down and being met with fierce resistance from the Ukrainians.
Putin’s big gambit to make Russia a feared world power appears to be backfiring and could send the Russian economy into complete collapse.
The world is standing up to Vladimir Putin, and corporations will not be left behind.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
