It appears the ransom paid by BP for its Siberian gas field was not enough.

Today’s news that the company’s investment in the Kovykta field, one of its most important in Russia, is “days away” from having its license revoked provides several clear lessons for energy investors.

1.) There is a “sticky power” to doing business with the Kremlin – foreign firms are drawn into self-perpetuating unlawful and corrupt practices to gain favor with the authorities, mirroring the conduct of a lawless state and its politically guided energy arms. 2.) The further a foreign company is drawn into the state’s embrace, the weaker it becomes and the more vulnerable to the leverage of blackmail. 3.) Weakness, cooperation, and loyalty are not respected – when Russia wants to steal something from you, it is going to go forward and do it, even if you follow their instructions to the letter. 4.) A foreign firm under state attack should fight back hard, and urgently seek to address their claims in fair third-party courts and arbitration forums.