The London Stock Exchange said it has suspended trading 28 companies linked to Russia including gas giant Gazprom and the country’s second biggest lender Sberbank.
The LSE halted transactions in the shares with immediate effect on Thursday morning after prices plummeted following sanctions imposed in response to Russia’s invasion of Ukraine.
Meanwhile, UK petrol prices hit a new high of 151.67p per litre amid Vladimir Putin's war with Ukraine.
As the conflict entered its second week, the price of oil soared and Brent crude - the benchmark - had the cost of a barrel at nearly $115 per barrel earlier on Thursday - the highest level in years.
This is in turn affecting the cost of petrol in the UK, which hit new highs on Wednesday.
Meanwhile, the UK is on course to spend £6.3m per day on imports of Russian gas, potentially helping to fund the war in Ukraine, according to new analysis.
Around 4 per cent of the UK's gas demand is covered by Russian imports. At current high prices, that equates to £2.3bn in a year, The Energy and Climate Intelligence Unit calculated.
