"We can sell it if we want to," the BP source said in response to reports that the AAR consortium, which represents the quartet of Russian oligarchs, would seek to veto any deal. Sources familiar with the matter said BP has been approached by state energy holding company Rosneftegaz, which controls a stake of more than 75% in Rosneft, Russia's largest oil company. Former Deputy Prime Minister Igor Sechin, a Putin ally who has led strategy at Rosneft for the best part of a decade, was recently named chief executive at the state oil firm and sources say has been handed a mandate to build a national oil champion capable of competing on a global scale. The state approach has put AAR — led by banking-to-retail tycoon Mikhail Fridman — under pressure after it took legal action last year to prevent BP from signing a major offshore exploration and $16 billion share-swop deal with Rosneft.