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Axios
Axios
World

BP will divest stake in Russian oil giant Rosneft

British Petroleum Rosneft Russia Bernard Looney

British oil company BP said Sunday it will exit from its 19.75% stake in Rosneft, the Russian oil giant with ties to the Kremlin, and that BP CEO Bernard Looney will immediately resign from Rosneft's board.

Driving the news: The British government had called for the move Friday, when it summoned Looney to a meeting with U.K. business secretary Kwasi Kwarteng and accused Rosneft of providing fuel to Russian President Vladimir Putin’s army for the invasion, according to multiple reports.

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