Russian oil ban not enough to stop them funding war says expert

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A Ukrainian official has blasted oil firm BP over its chief’s continued investment in Russian oil. Oleg Ustenko, the chief economic adviser to President Volodymyr Zelensky, penned a letter to Bernard Looney, the company’s CEO, accusing him of failing to follow through on a pledge to drop shares in Russian firm Rosneft. BP quickly announced plans to shed its 19.75 percent stake following Vladimir Putin’s invasion in February but has yet to make good on that promise. In his letter, Mr Ustenko said that companies investing in Russia must leave or “risk complicity with Russia’s war crimes”. Those that refuse to drop their stake must pour profits made from the nation into a fund for “Ukrainian victims of the war”, he added.

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  • BP risks ‘complicity with Russia’s war crimes’ – Kyiv07:45
  • BP risks ‘complicity with Russia’s war crimes’ – Kyiv

    In a letter to BP boss Bernard Looney, President Volodymyr Zelensky’s chief economic adviser said the company has failed to follow through on a promise made when Vladimir Putin’s invasion began. 

    He said the firm has failed to drop a 19.75 percent stake in Russian energy giant Rosneft, leaving it risking “complicity with Russia’s war crimes”.

    Oleg Ustenko called on the company to drop its investment as promised, or set up a fund for Ukrainian families. 

    He said: “BP was among the first of the oil majors to announce its intention to exit Russia by selling its stake in Rosneft, the Kremlin’s oil company.

    “Yet after nine months of Russian aggression, war crimes and the bombardment of civilian infrastructure, all funded and fuelled by Russian oil, gas and coal, BP remains a shareholder in Rosneft.

    “Our position is clear – companies must leave Russia or risk complicity with Russia’s war crimes.

    “Any European company which continues to profit from the Russian fossil fuel sector should establish a fund to dedicate that money to Ukrainian victims of the war.”

    Source: Read Full Article