The London Stock Exchange Group on Thursday announced the suspension of listings of 27 Russia-linked firms after sanctions were imposed due to the nation’s invasion of Ukraine.
The exchange had already blocked a division of Russian bank VTB last week in the wake of the sanctions.
‘LSEG has suspended trading in 28 Russian-listed securities,’ said Chief Executive David Schwimmer in a statement giving the total number.
‘This has been based on sanctions and the ability to run an orderly market.
‘Suspensions are driven by those decisions, so if we see any other any other securities affected by sanctions then similar actions will take place.’
The suspensions comprise energy giants Gazprom, Rosneft and Lukoil among others.
They also include Russia’s largest lender Sberbank, which announced its withdrawal from Europe on Wednesday due to the impact of tough sanctions.
The LSEG added Thursday that it was ‘closely monitoring’ fallout from the conflict and consulting regulators and authorities.
‘This is a very complex and fast-moving situation and we are working closely with regulators across all parts of our business,’ added Schwimmer.
Various Russian firms, including steelmaker Evraz PLC and gold miner Polymetal International PLC, continue to trade on the British capital’s stock market despite outcry from politicians.
However, the LSEG had announced Wednesday that both groups will leave the FTSE 100 index after collapsing in value since Russia launched its attack on Ukraine.
Evraz and Polymetal will depart from the FTSE 100 of top companies and enter the FTSE 250 index.
The changes, part of a quarterly reshuffle of the FTSE 100, will take effect from March 21.
source: AFP
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