The Chancellor Rishi Sunak has called on UK firms to “think very carefully” about any investments that would support the Putin regime, in the wake of his illegal and unprovoked invasion of Ukraine.
He welcomed commitments from firms such as BP, Shell, Aviva, M&G and Vanguard, who have announced their intention to reduce or sell holdings in Russia in recent days.
And, in a bid to ensure Putin and his regime feel maximum economic pain, Sunak said there was no argument for new investment in the Russian economy from UK firms.
The Chancellor said: “I welcome commitments already made by a number of firms to divest from Russian assets – and I want to make it crystal clear that the government supports further signals of intent.
I am urging firms to think very carefully about their investments in Russia and how they may aid the Putin regime – and I am also clear that there is no case for new investment in Russia.
“We must collectively go further in our mission to inflict maximum economic pain – and to stop further bloodshed.”
