BP and Russian talks break down

MOSCOW (Reuters) - Talks between oil major BP and its Russian partners over the future of its joint venture TNK-BP broke down on Wednesday, sources close to BP told Reuters.

"BP rejected the ultimatum," a source said, referring to three demands presented to BP by the Russian shareholders, for a 60 percent reduction in foreign employees, a 50-50 representation on all boards and increased power of attorney for one Russian shareholder, German Khan.

(Reporting by Michael Stott, writing by Amie Ferris-Rotman, editing by Melissa Akin)