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The London News.Net: British business told to stay away from Russia

Thursday 7th June, 2007

Moscow’s move to take control of energy assets from foreign companies has prompted a warning from the British government.

The Foreign Office has stepped up warnings about Russia and has told British companies there is now more evidence of risks faced by outside investors.

The Kremlin’s most recent assaults on energy companies have involved U.K. interests: Royal Dutch Shell’s controlling stake in the $20bn Sakhalin-2 project in Russia’s far east and the license held by BP’s Russian venture for the huge Kovykta gas field in Siberia.

BP looks almost certain to lose its license to develop the $18bn Kovykta field by the end of this month.

http://www.thelondonnews.net/story/254994

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