Brussels, 22/12/2003 (Agence Europe) - On Friday, the European Commission decided to grant regulatory approval to TNK-BP's acquisition of joint control of the Russian oil company Slavneft together with the Russian oil company Sibneft. The Commission comments that the transaction will only have limited effects in Western Europe in relation to the sale of certain petrochemicals. Earlier this year the Commission authorised the establishment of the TNK-BP joint venture between BP, Alfa Group, Access and Renova (AAR), whereby the parties combined their oil and gas interests in Russia and Ukraine. However, AAR's interest in Slavneft was not included in the TNK-BP joint venture at that time. The Slavneft interest is now contributed to TNK-BP. Slavneft's main activities are in Russia and include the exploration, production and refining of crude oil as well as the marketing and supply of oil and refined products. It also operates 600 service stations.