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Geithner Asked To Probe BP-Russian Deal

 Posted by on January 20, 2011
Jan 202011

(Washington, DC) — Treasury Secretary Timothy Geithner has been asked to investigate a 16-billion-dollar share-swap plan between BP and Russian oil firm Rosneft.

Geithner is being pressed on the matter in a letter from Congressman Ed Markey, who cites security worries over the deal.

The Massachusetts Democrat says he believes there is "clearly sufficient evidence" the BP-Rosneft agreement could pose an unacceptable threat to U.S. security.

BP is the largest producer of oil and natural gas in the U.S. as well as the biggest fuel supplier to the military.

Markey's concerns stem from a prior willingness by Russian state-owned energy companies, quote, "to cut off energy supplies during confrontations." Markey cites a dispute two years ago between Russian energy firm Gazprom and a Ukrainian company.

The business conflict eventually led to Gazprom shutting off its supplies to Ukraine.

(Copyright 2011 by VERTEXNews/Newsroom Solutions)