(CNBC)
British oil giant BP said on Sunday that it is exiting its share in Rosneft, a state-owned Russian oil and gas company. BP has held a 19.75 percent stake in Rosneft since 2013. The British company also said its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately resign from Rosneft’s board. “Like so many, I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes out to everyone affected. It has caused us to fundamentally rethink BPs position with Rosneft,” Looney said in a statement. Meanwhile a senior White House official said that Russia has become a global, economic and financial pariah, and the government led by President Vladimir Putin is getting kicked off the international financial system as over 30 countries have announced sanctions and export controls on Moscow.
