What's Hot

    Father’s Day – Stepping into father’s shoes

    June 18, 2022

    4 Expert-Backed Strategies for Managing Anxiety

    April 15, 2022

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022
    Facebook Twitter Instagram
    Facebook Twitter Instagram LinkedIn
    United Business OutlookUnited Business Outlook
    NOMINATE FOR AWARDS
    • Home
    • Top Global News
    • INFO-TECH
      1. Social Media
      2. How-To
      3. Computer & Laptops
      4. Mobile & Tablets
      5. Gadgets
      6. View All

      5 Best Video Editing Apps For Social Media

      March 30, 2022

      Social Media Strategies To Follow

      March 15, 2022

      WeChat: What You Need To Know

      March 7, 2022

      Social Media Content You Need to Create.

      February 5, 2022

      Things to know before starting a business with friends

      March 25, 2022

      How to get a job in the finance industry

      March 2, 2022

      How modern technology helping us solve problems

      February 28, 2022

      Legal requirements to start a business

      February 28, 2022

      Cloud computing basics

      March 9, 2022

      OnePlus 10 Pro- The launch we are waiting for!

      March 29, 2022

      The most valuable brands in 2022

      March 14, 2022

      How modern technology helping us solve problems

      February 28, 2022

      Huawei launches Smart Glasses with Detachable Front Frame along with MateBook X Pro.

      December 25, 2021

      Father’s Day – Stepping into father’s shoes

      June 18, 2022

      4 Expert-Backed Strategies for Managing Anxiety

      April 15, 2022

      Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

      April 4, 2022

      UK could open seven new nuclear power stations to reduce Russian oil dependence

      April 4, 2022
    • Markets
    • Crypto
    • Funding
    • More
      • Retail
      • Entrepreneurs
      • Automotive
      • Healthcare
      • Industries
      • Technology
      • Companies
        • Apple
        • SamSung
      • Fintech
      • Marketing
      • Real Estate
      • Sales
    United Business OutlookUnited Business Outlook
    Home»Top Global News»Rishi Sunak asks British companies to stop investing in Russia

    Rishi Sunak asks British companies to stop investing in Russia

    Following Russia's invasion of Ukraine, several companies, have declared their plan to reduce or sell their investments in the country.
    Aditi GuptaBy Aditi Gupta2 Mins Read Top Global News March 15, 2022
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Rishi Sunak
    UK urges to stop investing in Russia. (Image: Pixabay)
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Rishi Sunak has asked British companies to stop investing in Russia while praising the companies who have done the same.

    BP and Shell were the first few to withdraw their assets from Russia. Aviva, M&G, and Vanguard, followed suit.

    This comes after firms globally started imposing sanctions on Russia.

    Following Russia’s invasion of Ukraine, these companies, among others, have declared their plan to reduce or sell their investments in the country.

    Meanwhile, Rishi Sunak, the chancellor of the UK has advised more businesses in the nation to do the same.

    “I welcome the promises previously made by a number of companies to withdraw from Russian assets. Additionally, I want to be clear that the government supports future signals of intent,” Sunak added.

    Gove defends Evgeny Lebedev in the wake of new peerage questions.

    “I’m encouraging companies to consider carefully about their investments in Russia and how they may help the Putin administration.

    I’m also clear that new investment in Russia is unnecessary.” We must all work together to strengthen our efforts to cause maximum economic damage — and to prevent more killing.” Sunak concluded.

    Last week, Sunak and the economic secretary, John Glen, met with fund managers and other top financial leaders to discuss UK investment in Russia.

    Sunak praised the firms’ agreement on the need to economically isolate Putin and his government.

    This has resulted in significant investment losses of Russian assets. Along with BP’s decision to sell its 20% investment in Rosneft, a Russian state-owned oil corporation.

    As a result, costing them up to $25 billion (£19.1 billion).

    Meanwhile, BlackRock, the world’s largest asset management firm having more than $10 trillion in assets under its management, has lost $17 billion on Russian bonds.

    On behalf of clients, it handles more than $18 billion in Russian assets. These were frozen on February 28.

    The impact of western sanctions on markets, has left the huge majority of those assets unsold. Including the two-week suspension of trading on the Moscow stock exchange,

    The financial corporation HSBC is under pressure from the public to cut relations with Russian oil and gas companies, with some clients threatening to change banks.

    According to polls conducted by the advocacy group 38 Degrees.

    When Goldman Sachs and JP Morgan Chase announced that their businesses will be shut out, they were the first large US banks to do so.

    Global Rishi Sunak Russia Russia-Ukraine UK
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleBest YouTube Channels For Entrepreneurs
    Next Article Common Mistakes Small Business Owners Make
    Aditi Gupta

    A writer and a photography enthusiast, with a zest for reading and traveling. Wants to bring change to the world, and when not editing, she spends her time on the guitar.

    Related Posts

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022

    Tesla: Despite obstacles, Tesla produces a record number of automobiles

    April 4, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    advertisement@unitedbusinessoutlook.com

    United Business Outlook Is An Online Magazine Providing Comprehensive Coverage And Analysis Of International Businesses From All Industries.

    We're social. Connect with us:

    Facebook Twitter Instagram YouTube LinkedIn
    Top Global News

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022

    Tesla: Despite obstacles, Tesla produces a record number of automobiles

    April 4, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2023 United Business Outlook | A Venture by Famezop Media.
    • Home
    • Get In Touch
    • Our Authors
    • Privacy & Policy

    Type above and press Enter to search. Press Esc to cancel.