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    BP to exit Russia oil giant Rosneft at cost of $25 billion over Ukraine invasion

    BP to exit Russia oil giant Rosneft at cost of $25 billion over Ukraine invasion

    BP to exit Russia oil giant Rosneft at cost of $25 billion over Ukraine invasion
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    By AP  IST (Published)

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    BP has held a 19.75 percent stake in Rosneft since 2013 and company said that its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately resign from Rosneft's board.

    British oil giant BP said on Sunday that it is exiting its share in Rosneft, a state-owned Russian oil and gas company. BP has held a 19.75 percent stake in Rosneft since 2013. The British company also said its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately resign from Rosneft's board.
    "Like so many, I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes out to everyone affected. It has caused us to fundamentally rethink BPs position with Rosneft," Looney said in a statement.
    Meanwhile a senior White House official said that Russia has become a global, economic and financial pariah, and the government led by President Vladimir Putin is getting kicked off the international financial system as over 30 countries have announced sanctions and export controls on Moscow.
    The US and its key allies have imposed tough sanctions on Russia to cripple its economy for invading Ukraine.
    The leaders of the US, the European Commission, France, Germany, Italy, the UK and Canada on Saturday also decided to launch a joint task force to hunt down assets of sanctioned Russian companies and oligarchs. Russia has become a global, economic, and financial pariah. Over 30 countries representing well over half the world's economy have announced sanctions and export controls on Russia. Putin's government is getting kicked off the international financial system, the senior administration official told reporters.
    In Russia, police detained over 2,000 people at anti-war protests held in 48 cities across the country, a protest monitoring group said, as people defied the authorities to show their anger over Russia's invasion of Ukraine.
    More than 5,500 people have been detained at various anti-war protests since the invasion began on Thursday, according to the OVD-Info monitor, which has documented crackdowns on Russia's opposition for years.
    In Moscow, riot police often outnumbered protesters, some of whom carried hand-written placards with peace signs and anti-war slogans in Russian and Ukrainian. Some wore masks with the word "Enough" emblazoned in the front.
    With inputs from agencies.
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