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BP Warns More Sanctions May Hurt Business as Profit Rises

BP Plc, the U.K. oil company with the single-biggest foreign investment in Russia, warned that more sanctions against the country could hurt its business.

BP, with a 20 percent stake in OAO Rosneft, stands to lose the most from further sanctions in response to Russia’s annexation of Crimea. The European Union and the U.S. are acting to intensify punitive measures aimed at key sectors of the economy -- finance, defense and energy.