British energy company BP said Tuesday the depreciation of the Russian currency in part had a "significant impact" on third quarter results.

BP reported its third quarter profits were off 63 percent. Revenues for the third quarter dropped more than 3 percent year-on-year to $94.8 billion.

From its operations related to Russian oil company Rosneft, BP said net income for the quarter was $110 million compared with $808 million during the same period last year.

"The depreciation of the ruble against the dollar over the period had a significant impact on the result," the company said in its quarterly statement.

The Russian currency hit an all-time low last week, trading at 42 rubles to the dollar. Western sanctions on its energy sector imposed in response to crises in Ukraine, coupled with record-level inflation and low oil prices, have hit the Russian economy hard.

In its statement for the second quarter, BP warned any "future erosion" to its relationship with Rosneft or further economic pressure could have an adverse impact on business and strategic objectives in Russia.