[nwallin]

It was worth $25 billion before the invasion happened. Then the invasion happened. Then their share was worth the same amount in Rubles, but the value of the Ruble cratered. So their share was worth $10 billion. Then the west began announcing sanctions. Then Putin announced he was going to nationalize (personalize?) foreign investments in Russian firms -- including BP's investment. So their $25 / $10 billion stake was worth zero. Literally zero. Not a fraction of $25 billion, but literally zero. Because their investment in Rosneft is now owned by Putin.

Putin's counter-sanctions have created an environment where the PR benefit of publicly rejecting their Russian assets is worth more than the value of the assets themselves.

Weird world we live in.