- BP downplays any ill effects it may suffer from the latest sanctions on Russia, but shares are -2.1% premarket.
- BP says on first impression, the sanctions appear 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% in Russia's state-controlled oil major Rosneft (OTCPK:RNFTF), generates 25% of its oil output from Russian oil fields, and is one of the biggest buyers of Russian oil.