BP could face 'annihilation' says Russian President

Russian President Dmitry Medvedev believes the Gulf of Mexico spill could lead to the "annihilation" of oil giant BP.

In an interview with the Wall St Journal, Medvedev says the spill will likely lead to a fundamental rethink of oil exploration around the globe. However, while he says BP could be face destruction or be broken up, he stopped short of saying his country would re-evaluate BP's lucrative partnership in Russia - which represents almost a quarter of its oil production. "This is a wake-up call," Medvedev said. "Certainly, we are not indifferent to their future. Hopefully, they can absorb the losses." On the euro, Medvedev says the current threat to the single-currency "can't be underesti...