BP dumps 20% stake in Russian oil giant, says its partnership with Rosneft 'simply cannot continue' following attacks on Ukraine

The invasion of Ukraine has led to the end of a 30-year business partnership between the two companies.

The British oil and gas company said in a statement that the move will cost it $25 billion in non-cash charges by the end of the first quarter. Nearly half of the oil and gas reserves of the British company are held by the Russian company, according to a report.

The situation in Ukraine has caused the company to rethink its position with the country.

Bob Dudley will also resign from the board of the company.

The board of the company decided that its involvement with the Russian oil company was too controversial.

The board of the company decided to exit its stake in the Russian company because it was no longer aligned with the company's business and strategy. He said that the board believes the decisions are in the best interests of all shareholders.

The Biden Administration imposed sanctions on 10 Russian billionaires on Thursday.

The US Treasury said that the elites close to Putin were using their proximity to the Russian President to pillage the Russian state, enrich themselves, and elevate their family members into some of the highest positions of power in the country at the expense of the Russian people.