Yesterday, BP announced they would be selling their $14 billion share in Rosnef.
The London-headquartered oil firm announced on Sunday that it was offloading its 19.75% voting stake in Rosneft, noting that Russia’s invasion of Ukraine represented a “fundamental change” in relations with Moscow.
The value of the stake was estimated at $14bn (£10.4bn) at the end of last year. It is unclear who BP would sell it to.
The oil firm’s chief executive, Bernard Looney, is also resigning from the Rosneft board with “immediate effect”, it said in a statement.
Former BP chief executive Bob Dudley has also resigned from the Rosneft board, which is chaired by the former German chancellor, Gerhard Schröder, and run by Igor Sechin, a close ally of the Russian president, Vladimir Putin.
Today however, Russia announced that
Russia's central bank says it has ordered brokers to suspend the execution of all orders by foreign legal entities and persons who want to sell off their Russian investments, such as stocks and shares.
So it seem the Russian move is directly aimed at stopping Western companies from divestitures from Russia.
For slightly more background, according to Wikipedia, Rosneft is "the second-largest state-controlled company (after Gazprom) in Russia in terms of revenue".
My question is whether the move is effective in blocking BP's sale or if those shares are held/traded on a different market, not Moscow.