- BP (BP -1.3%) opens sharply lower after new U.S. sanctions name Rosneft (RNFTF) CEO Igor Sechin as one of the individuals on its latest list of Russians targeted with asset freezes and travel bans.
- BP owns a 19.75% stake in Rosneft, making it the biggest foreign investor in Russia's oil sector.
- It is unclear whether BP could continue normal operations in the U.S. if it continued to be a Rosneft shareholder with Sechin still in charge, yet it would be difficult to find buyers for a holding worth $12.5B in the midst of a crisis, according to a Telegraph analysis.
- Although officials indicated over the weekend that Gazprom (OGZPY) head Aleksei Miller would be targeted, the final list does not include him.
at Zacks.com (Nov 18, 2014)