By Laura Barron-Lopez - 07/29/14 11:37 AM EDT
BP warned more sanctions from the U.S. and European Union (EU) on Russia would hurt business profits.
The oil giant is the single-biggest foreign investor in Russia, 20 percent of that is at stake in Russia's state-controlled oil company Rosneft.
The U.S. and EU may announce as early as Tuesday new rounds of sanctions on key sectors of Russia's economy, including energy.
To date BP said that the current sanctions have not had a "metrical adverse impact" on the company.