LONDON — The London Stock ExchangeIt has suspended trading with 27 Russian-linked firms, including its biggest lender. SberbankEnergy giant Gazprom.

The following companies are also barred from trading London: Lukoil, PolyusAnd EN+While the VTB subsidiary, Russia’s 2nd-largest, was being suspended on Friday,

CNBC was informed Thursday by David Schwimmer (CEO of London Stock Exchange), that “the FTSE Russell index company has removed Russian listing from its indices. The London Stock Exchange has stopped trading in (27) Russian listed securities.”

“Our World-Check business keeps its database up to date round the clock, as more sanctioned people are added. So this is something that we’re doing throughout the business. We are actively working with regulators for those sanctions to be implemented.”

Since the invasion of Ukraine, Russian stocks listed in London have fallen by over 80%. ensuing crippling economic sanctionsThe country’s businesses, institutions and individuals by the U.S.und its Western allies.

Russia’s London-listed stock had nearly lost their entire value before the suspension announcement was made on Thursday. Sberbank’s year-to date decline was 99.72%. On Wednesday, it traded at around one penny. Gazprom fell 93.71%. Lukoil was 99.2%. Polyus was 95.58%. EN+ was 20.51%.

Russia has intensified its attack against Ukraine over the last week. It laid siege to several major cities and encountered fierce resistance from Ukraine.

Explosions hit the capital city of KyivOn Thursday, fighting entered its second weekly phase. Russian troops invaded Kherson, a strategic port city, and Kharkiv, Maripol were also subject to heavy shelling.

This new package of measures prohibits investors from western Russia from transacting with it. It also freezes the Central Bank of Russia’s overseas assets. Not only does the CBR have vast foreign currency reserves that were used by the CBR to offset depreciations in local assets’ value, but the entire array of assets.

London is a long-standing offshore trading hub for Russian oligarchs. The LSE, however, stated in Thursday’s earnings report that Russia and Ukraine make up less than 1%.

Russia’s domestic markets have been also hit hard. The country’s stock exchange remained closed Thursday for the fourth straight day after central bank stopped stock- and derivatives-trading to stop the selling.

As western financial institutions seek to curtail funding flows into Moscow, the London Stock Exchange announced that Russian stocks had been removed from MSCI’s globally-monitored indices.

Russian securities will be taken out of MSCI’s indexes starting next Wednesday, at a “effectively zero” price. This is because the benchmarking firm reclassifies them. MSCI RussiaIndexes that are not under the “Emerging Markets” umbrella will be categorized as “Standalone Markets”.

MSCI conducted a consultation on Monday with international institutional investors. The “overwhelming majority of respondents confirmed that the Russian stock market is uninvestable,” MSCI stated in a statement on Wednesday.

MSCI stated, “Consultation participants noted several recent negative events that caused a material decrease in the access of the Russian stock market to international institutional investor” MSCI has since added.

FTSE Russell (LSE) will immediately remove Russian stocks before the market opens Monday.