The London Stock Exchange has halted trade in 27 businesses with close ties to Russia, including energy and banking behemoths Gazprom and Sberbank.

The London Stock Exchange said it will immediately suspend trading in the businesses, which also include EN+, Lukoil, and Polyus, "in light of market conditions and in order to maintain orderly markets."

International pressure is wreaking havoc on Russian businesses. At the same time, the invasion of Ukraine disrupts those with operations in the region, with miners Evraz, in which Roman Abramovich owns a 29 percent stake, and Polymetal both dropping out of the FTSE 100 in its quarterly review due to their market values plummeting.

On Friday, the London Stock Exchange banned trade in VTB Capital, Russia's second-largest bank VTB. Earlier this week, the Financial Conduct Authority (FCA) stopped trade in the bank's worldwide depository receipts on the London Stock Exchange, where the bank has a secondary listing. The company's primary listing is in Moscow.

Sberbank, Russia's largest lender, stated Wednesday that it is exiting the European market, citing massive cash withdrawals and threats to the safety of its personnel and branches.

The news came just hours after the European Central Bank ordered the closure of Sberbank Europe, warning that the bank could fail due to a deposit run triggered by Vladimir Putin's invasion of Ukraine.

The LSE stated that its operations in Russia and Ukraine represent less than 1% of overall revenue and that it will "continue to monitor this situation."

The London Stock Exchange recorded a nearly tripling of pre-tax revenues from £492 million in pandemic-hit 2020 to £987 million last year. Annual revenue more than tripled from £2 billion to £6.4 billion.