Treasury and FCA on investing in Russia

The Chancellor has called on all UK firms to think very carefully about any investments that might support the Putin regime, and has welcomed commitments to divest away from Russian assets. The Government recognises that some firms may find that winding down their positions is a long term process.  In response. FCA pointed out that regulated firms have already taken steps to avoid new investment in the Russian economy and many asset managers and pension providers have written down assets to zero. However it noted the current practical challenges of divestment and stressed that firms must ensure they do not breach any sanctions requirements when selling.