London Stock Exchange suspends 27 Russian listings; wheat prices soar to 14-year high – as it happened

European shares drift lower as Moscow stock exchange shut againIoD: no longer tenable for Brits to sit on boards of Russian firmsFrance seizes yacht linked to Rosneft boss Igor SechinSeverstal directors resign a day after Mordashov quits Tui board and shifts Nordgold stake to his wifeRussian airlines shut out of UK insurance marketIntroduction: Oil prices at nine-year peakUkraine live updatesClosing summaryThe drinks giant Diageo, which makes Smirnoff vodka and Guinness, has paused exports to Russia and Ukraine. A spokesperson told Reuters:Our priority is the safety of our people in Ukraine and the wider region.The Institute of Directors expresses its solidarity with Ukraine and its people, who are facing intolerable suffering.Although directors owe legal duties to the companies on whose boards they serve, they should also feel a stronger moral duty to uphold the fundamental values of freedom and democracy. We believe that it is no longer tenable for British directors to be involved in governance roles in the Russian economy. Therefore, we hope that they will now question the viability of their mandates in Russian and Belarusian companies. Continue reading…

The drinks giant Diageo, which makes Smirnoff vodka and Guinness, has paused exports to Russia and Ukraine. A spokesperson told Reuters:

Our priority is the safety of our people in Ukraine and the wider region.

The Institute of Directors expresses its solidarity with Ukraine and its people, who are facing intolerable suffering.

Although directors owe legal duties to the companies on whose boards they serve, they should also feel a stronger moral duty to uphold the fundamental values of freedom and democracy. We believe that it is no longer tenable for British directors to be involved in governance roles in the Russian economy. Therefore, we hope that they will now question the viability of their mandates in Russian and Belarusian companies.

Continue reading…

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