Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what assessment the Government has made of the merits of listing of the state-owned Russian company Rosneft on the London Stock Exchange after sanctions were imposed on that company by the US and the EU.

The Financial Conduct Authority (FCA) operates the UK Listing Regime and retains independence from the Government in its regulatory and supervisory functions. This is an integral part of the FCA's ability to perform its role and responsibilities. Its credibility, authority and value to consumers would be undermined if it were possible for the Government to intervene in its decision-making. At the time of its listing on the London Stock Exchange in 2006, Rosneft met the applicable conditions. Since 2014, Rosneft have been subject to EU economic sanctions. The UK fully complies with these sanctions, which were most recently extended on 5 July.