British government asks companies to stop investing in Russia

British authorities met this week with asset managers and owners to discuss UK investment in Russia and there would be a consensus on the need to isolate Putin economically.

The British Minister for the Economy, Rishi Sunak, urged this Sunday (03.13.2022) British companies to stop investing in Russia and asked them to think “very carefully” about any initiative that could support the Vladimir Putin regime.

In a statement, Sunak praised companies that have already announced their intention to divest some or all of their assets in the country, including Shell, BP, Aviva, M&G and Vanguard, and pledged to support others that want to do so. same.

“I urge companies to think very carefully about their investments in Russia and how they may be helping the Putin regime,” the conservative minister said, stressing that he sees “no reason to make new investments in Russia.” “We must collectively advance our mission to inflict maximum economic damage” on Russia, he says in the note.

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The so-called Chancellor of the Exchequer met this week with asset managers and owners to discuss UK investment in Russia and “there was consensus on the need to economically isolate Putin” over the invasion of Ukraine, the statement said.

The Government acknowledges that, for some companies, liquidating their positions “will be a long process”, given the market conditions and the possible difficulty in selling assets due to the global sanctions imposed on the Russian economy. Sunak assures in the note that the Executive will do “everything possible to back and support companies that wish to divest.”

ct (ef, afp)

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