Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Ukraine invasion: London Stock Exchange suspends 28 companies linked to Russia

Ukraine invasion: London Stock Exchange suspends 28 companies linked to Russia

Giants of Russia's heavy industry, including Gazprom, Lukoil, and Norilsk Nickel, were frozen on the market in accordance with sanctions, the LSE said.

The London Stock Exchange (LSE) has suspended trading for 28 companies linked to Russia after crushing sanctions on the country were put in place following its invasion of neighbouring Ukraine last week.

The market said it was "closely monitoring" the impact of the conflict and was "actively engaging" with regulators and authorities over relevant sanctions, according to Reuters news agency.

Companies affected include the state-owned oil titan Gazprom and the country’s largest lender, Sberbank, according to a notice posted by the exchange on Thursday morning.

Some of Russia’s largest miners, oil companies, and metals giants have also been suspended with immediate effect, including Lukoil, Norilsk Nickel, Polyus, and Rosneft.

"London Stock Exchange Group has suspended trading in 28 Russian-listed securities," Chief executive David Schwimmer said.

"This has been based on sanctions and the ability to run an orderly market,” he added.

"Suspensions are driven by those decisions, so if we see any other securities affected by sanctions then similar actions will take place."

Further sanctions to target Russian companies


Last week, a subsidiary of Russia's second largest bank, VTB, was suspended on the London Stock Exchange as a result of sanctions introduced following the invasion.

Separately on Thursday, the Treasury said that the UK would introduce further sanctions targeted at the provision of insurance and reinsurance services for Russian companies.

Russian companies in the aviation and space industry will be prevented from accessing the UK insurance sector, severely limiting access to the global insurance market.

"Coupled with similar actions by the EU, this move further isolates Russia's economy from the international financial system," a statement from the Treasury said.

The Russian stock market has remained closed for four days in a row this week, in response to extreme volatility following a torrent of sanctions placed on Russia.

On Monday, Russia's central bank raised its key interest rate from 9.5% to 20% in an attempt to shore up the rouble after it plunged to a record low.

The currency plummeted after Western nations imposed new sanctions on the country for its invasion of Ukraine.

The rouble crashed by more than 40% against the US dollar on Monday morning, touching a record low of 120 per dollar on electronic currency trading platform EBS, passing its previous low of 90 roubles per dollar, before later recovering slightly to 94 roubles as Russian support measures took hold.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×