Firms have moral duty to isolate Russia, says Sunak

RISHI SUNAK has urged firms to consider selling their Russian assets as he warned that there was “no case” for new investments in the country.

The Chancellor praised moves by firms such as BP, Shell and Aviva to reduce or sell holdings in Russia, but called for further action to inflict “economic pain” on Vladimir Putin’s regime.

Where firms needed time to wind down their investments because of hurdles such as the sanctions placed on Moscow, they could still send “signals of intent” of their plans, Mr Sunak said.

After talks with asset managers and owners last week, Mr Sunak welcomed the “consensus” on the need to “economically isolate Putin and his regime”, but said more needed to be done.

He said: “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.”