BP stand-off over Russian dividend AAR is understood to have insisted the project should proceed in its current form or not at all, leaving a question mark over its fate. The partners also discussed, but failed to agree upon, the payment of dividends. Regular dividends were suspended in May and as a result BP will be missing about $430m of expected earnings from TNK-BP when it reports its first-half results on July 31. TNK-BP said in a statement that BP had proposed the payment of a $1bn special dividend and that AAR "agreed to study BP's proposal and make a decision during the course of the coming week." The stalemate over Rospan at Friday's meeting typifies the disagreements that have dogged the venture but have worsened in the past 18 months since BP angered its partners by bypassing the venture in an attempted tie-up with state-controlled Rosneft. AAR blocked that deal and is seeking damages from BP over an alleged breach of the terms of TNK-BP's shareholder agreement. At the last board meeting in December, AAR argued that TNK-BP should sue BP - its own shareholder - prompting the resignation of two of TNK-BP's three independent directors. The replacement of one of those enabled the board to reconvene on Friday.