Crucial talks between BP and its Russian partners in TNK-BP, the Russian oil venture, broke down as the Russian billionaire shareholders failed to attend a scheduled board meeting in Cyprus amid a stand-off for control of the company, two people familiar with the situation said.

Tony Hayward, BP's chief executive, flew to Cyprus for talks with TNK-BP's Russian shareholders, Mikhail Fridman, Viktor Vekselberg and Len Blavatnik, on the sidelines of the planned TNK-BP board meeting.