London’s High Court has granted an injunction to freeze BP‘s $8bn Arctic exploration deal with Rosneft.

BP’s Russian oligarch partners in the consortium Alfa-Access-Renova (AAR), which has a 50% stake in TNK-BP, filed a complaint against the deal, claiming that they need to be involved in the negotiations.

According to AAR, the TNK-BP agreement insists that BP needs its shareholders’ approval before entering into any major new ventures in Russia.

BP said that it looks forward to resolving the dispute with the Russian shareholders through the Stockholm Court by 25 February, reports RIA Novosti.

AAR CEO Stan Polovets said the court’s decision confirms the moral and legal justification of AAR’s position.