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    BP-Rosneft deal to 'strengthen Moscow-London alliance'

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    The recent Rosneft-BP deal will facilitate the development of the strategic alliance between Russia and Britain and open new cooperation opportunities, Russian Foreign Minister Sergei Lavrov said in London on Tuesday.

    The recent Rosneft-BP deal will facilitate the development of the strategic alliance between Russia and Britain and open new cooperation opportunities, Russian Foreign Minister Sergei Lavrov said in London on Tuesday.

    BP and Rosneft agreed a $16-billion share swap deal on January 14 under which Rosneft will give BP 9.5% of its stock in exchange for 5% of BP. The two companies also agreed to jointly undertake exploration and production projects on the Russian Arctic shelf.

    "The recent agreement between the oil giants Rosneft and BP strengthens our strategic alliance," he said at the London School of Economics, adding that Russian-British cooperation has very good prospects.

    Lavrov is currently on an official visit to Britain.

    London's High Court has placed an injunction on the Rosneft-BP deal until February 25, following a lawsuit by the AAR consortium of Russian shareholders in the TNK-BP joint venture over an alleged violation of a TNK-BP shareholder agreement to jointly pursue projects in Russia and Ukraine.

    A Rosneft representative has said the Russian oil company hopes the court injunction will not affect the deal.

    LONDON, February 15 (RIA Novosti)

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