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The CEO of Russian oil company Rosneft Igor Sechin signed numerous deals, including one with BP at the St. Petersburg International Economic Forum, Friday. Worth an estimated $750 million (€662 million), the agreement will hand BP a 20 percent stake in the Taas-Yuryakh oilfield - one of biggest in eastern Siberia. In return Sechin said that Rosneft will have access to facilities that will enable the “commercialisation of [its] products.” Rosneft also signed an agreement to acquire a 16.67 percent stake in one of Total's oil refineries in Germany. Sechin said the project revives an old scheme that was started near Berlin during Soviet times. The deal between the oil companies was signed despite the imposition of Western sanctions on both Rosneft and Igor Sechin last year.

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