Shame on BP27 Feb 2022 18:19
The chairman of Rosneft, Igor Sechin, is a close ally of President Putin. Rosneft supplies fuel to the Russian army.
Immediately offloading the stake to a potentially inappropriate buyer was not an option.
The company has decided to "divest" - meaning it will sever its financial ties with Rosneft, stop taking a dividend and step back from its two seats on the board.
Company officials say it is too soon to say exactly how this stake will be disposed of.
It will mean a significant financial hit, but a price BP had little choice but to pay.