Downing Street behind challenge to Fridman’s North Sea deal - FT.com
▻http://www.ft.com/intl/cms/s/0/656d7e24-c1c4-11e4-abb3-00144feab7de.html
A decision to challenge Russian billionaire Mikhail Fridman over his purchase of a dozen North Sea gasfields was taken at the highest levels of the British government amid expectations that Moscow is likely to face tougher sanctions over the conflict in Ukraine.
The stance, adopted after a recent meeting of the National Security Council, which is chaired by the prime minister and includes his top defence staff, reflects the concern that UK oil and gas production could be affected by the international crackdown on Russia.
Ministers have concluded there is unlikely to be any swift reversal of sanctions on Russian companies and individuals and, to the contrary, western economic penalties are more likely to be increased.
The decision also highlights broader concern voiced by senior UK ministers about the potential vulnerability to a Russian takeover of other North Sea assets as falling oil and gas prices encourage some existing operators to offload their operations.