British Petroleum (BP) has announced that it will exit its shareholding in Rosneft. The transaction value is estimated at US$14 billion. BP has held a 19.75% shareholding in Rosneft since 2013. 

Headquartered in Moscow, Rosneft is an integrated energy company specializing in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products. The transaction has been launched to comply with recent changes in trade sanctions imposed by the UK on Russia.