After BP cut its links to Russia, a growing number of other major companies have pulled out or significantly reducing their services, including Maersk, Shell, Apple, American Express, Equinor, Visa and Mastercard, Airbus and Boeing and fellow oil giant ExxonMobil.
Last week BP said it would offload its 19.75 per cent stake in Rosneft. 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. We can no longer support bp representatives holding a role on the Rosneft board. The Rosneft holding is no longer aligned with BP’s business and strategy and it is now the board’s decision to exit BP’s shareholding in Rosneft.”

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