BP pull out: Other companies must follow suit

The Liberal Democrats have welcomed the decision of BP to offload their almost 20% stake in Russian state-owned oil firm Rosneft in the wake of Putin’s invasion of Ukraine. Reacting to the news Liberal Democrat Leader Ed Davey, who called for this to happen in Parliament on Thursday, said: “I welcome BP’s decision to pull out of Rosneft because of Putin’s horrifying war in Ukraine. We now need all other British companies to follow suit, with immediate effect, and the Government to step up with stronger sanctions.

Liberal Democrat Leader Ed Davey

“The world must isolate Russia like the rogue state it is, and the UK must stand firm in solidarity with the people of Ukraine. The only way sanctions work is if every organisations and all governments are willing to shoulder responsibility and take tough decisions.”

bp chair Helge Lund said: “Russia’s attack on Ukraine is an act of aggression which is having tragic consequences across the region. bp has operated in Russia for over 30 years, working with brilliant Russian colleagues. However, this military action represents a fundamental change. It has led the bp board to conclude, after a thorough process, that our involvement with Rosneft, a state-owned enterprise, simply cannot continue.

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