SCRUTINY OF RUSSIAN COMPANIES IN THE UK

That this House urges the Government to enhance the scrutiny of companies linked to the Russian state operating in the UK; notes the controversy over the EN+ Group's decision to develop a UK presence following the decision of the US Administration to impose sanctions upon the company in response to the malign activities of the Russian Federation; further notes that shares in EN+ Group had been listed on the London Stock Exchange since 2017, despite well-publicised concerns over the company's corporate governance and ownership; notes that shares in the Russian-government-controlled energy company Rosneft remain listed on the Exchange; expresses concern that Rosneft is recognised internationally as a tool of Russian foreign policy, and appears on both the EU and US sanctions lists; notes that in 2014 an arbitral tribunal under the auspices of the Permanent Court of Arbitration in The Hague found that the vast majority of Rosneft's assets were unlawfully obtained as a result of the politically-motivated expropriation of Yukos Oil Company by the Russian state; and further urges the Government to review the admission standards upheld by the London Stock Exchange and the Financial Conduct Authority.