BP Profitting, But Should Be on Alert

2.25.02pm BST (GMT +0100) Tue 27th Jul 2004

Commenting on the profits announced by BP today, Malcolm Bruce, MP for Gordon and Liberal Democrat Shadow Trade and Industry Secretary, said:

"Events in Russia should be putting BP on high alert. Putin's campaign against Mikhail Khodorkovsky and his fellow Yukos officials must bring BP's Russian investment into question.

"Russian and non-Russian companies with investments in the country should be monitoring the trial of the Yukos officials with a great deal of concern.

"With over £4 billion invested in its TNK-BP venture, BP cannot turn a blind eye to the fact that the Russian authorities are effectively acting outside the rule of law.

"As long as Putin continues to flout human rights and legal convention, any company investing in Russia does so at their own risk."