BP has warned that further sanctions against Russia could affect its business as it posted a rise in second quarter profits.
BP said that sanctions imposed over the Ukraine crisis have not affected the oil giant so far, but could do so in the future.
The warning came as European ministers were meeting to discuss bolstered measures against Russia.
Sanctions “could adversely impact our business”, BP said.
BP has around a 20% stake in Russian energy giant Rosneft.
“Any future erosion of our relationship with Rosneft, or the impact of further economic sanctions, could adversely impact our business and strategic objectives in Russia, the level of our income, production and reserves, our investment in Rosneft and our reputation,” BP said.
via BBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza