The U.K. government has argued for some of the toughest possible sanctions on Russia. At the same time, BP Plc holds one of the single biggest foreign investments in the country. It’s an increasingly uncomfortable position for the British oil major — one that has prompted concerns at the highest levels of government. Business Secretary Kwasi Kwarteng is uneasy about BP’s ties to Russian energy giant Rosneft PJSC and expressed his concerns to BP Chief Executive Officer Bernard Looney at a meeting on Friday. Yet despite the unfortunate political symbolism of BP’s 20% stake in the Kremlin-controlled oil producer, the alliance may be shallower than it appears. In the relationship with Rosneft, BP really is “just a dividend receiver,” said Peter McNally, global head of industrials, materials and energy at Third Bridge, a provider of market intelligence. “They’re not being asked to pony up capital. It’s much more hands […]