Kovykta

I will admit that when BP first linked up with TNK I thought it would all end in tears.

BP faces a huge loss in revenues from its joint venture in Russia after the state-owned energy group Gazprom demanded to take a 75pc interest in one of the world's largest gas fields.

This isn't just Putin: standard Russian negotiating technique is, what's our's is our's, what's your's is negotiable. I've  invested time and effort in businesses over there but I wouldn't be happy  trying to control an asset.