UK NEWS: Sunak UK urges firms to leave Russia

LONDON, March 13 – British Finance Minister Rishi Sunak has called on more British companies to withdraw their existing investments in Russia, saying the new investment should be suspended following President Vladimir Putin’s decision to invade Ukraine.

“While I see it as a challenge to end existing investments, I believe there is no debate about new investments in the Russian economy,” Sunak said in a video message on Twitter.

“I urge property owners and managers to consider carefully any investment that may support Putin and his empire.”

Many major British companies have announced that they will sell or reduce their interests in Russia – such as the BPand Shell (SHEL.L) and the investment company Aviva (AV.L) – and Sunak said others who do so will be supported by the government.

“I want to make it clear that if firms or investors decide that they need to end their financial relations with Russia, it means that the government fully supports it,” he said.

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