On 20 April 2015, Edward Davey, Secretary of State for the Department of Energy and Climate Change for the previous UK government, notified LetterOne, an investment vehicle owned by a number of Russian and other individuals, including Mikhail Fridman, and Dea UK, a newly acquired subsidiary of LetterOne, that he proposed to revoke Dea UK’s North Sea petroleum licenses unless LetterOne arranged for a further change of control of the Dea UK gas fields in the North Sea. Under the terms of the licenses held by Dea UK, Dea UK and LetterOne now have three months to effect a further change of control. However, the Davey did offer to extend this period to six months.

UK government statement