The Russian government intends to stay out of the shareholder conflict between BP and its partners in TNK-BP local venture, the AlfaAccessRenova consortium, Prime Minister Vladimir Putin said on Wednesday.
"The government does not interfere in the operations of companies," Putin said when asked how the government could help solve the conflict, which followed a $16 billion deal between BP and Russia's top oil firm Rosneft to swap shares and develop the Arctic shelf.
AAR said that by signing the deal, supported by Putin's close ally Deputy Prime Minister Igor Sechin, BP has violated a shareholder agreement between it and TNK-BP which says BP could not get involved in any Russian projects without TNK-BP's approval. The agreement is now suspended indefinitely following a suit from AAR.
MOSCOW, April 20 (RIA Novosti)