Abstract
A recent BP Amoco investment in the Russian oil company Sidanco had to be considerably written down following transfer of Sidanco's main oil producing company to another entity.
The EBRD could make major investments in Russian oil and gas companies which would take the EBRD into an area much more risky than those described here. The move is speculative at present and doubtless the EBRD will be well aware of the BP Amoco experience.