Separately, energy giant Exxon Mobil said it would exit Russia oil and gas operations that it has valued at more than $4bn.

The decision will see Exxon pull out of managing large oil and gas production facilities on Sakhalin Island in Russia’s Far East.

British Land said it plans to end its rental contract with a Gazprom subsidiary in central London as soon as possible in the wake of Russia’s invasion of Ukraine.

Two Russia-focused miners, Evraz and Polymetal International, will leave the FTSE 100 index later this month after their shares plunged in recent days.

They will be replaced by gold producer Endeavour Mining and kitchen maker Howden Joinery.

Meanwhile, UK exporters have been warned they risk breaking sanctions if they share intellectual property with Russian companies over Zoom.

Businesses are battling to keep pace with the rules as the West expands restrictions on doing business with Russia.

The Institute of Export & International Trade, a membership group for businesses involved in international commerce, said thousands of companies logged on for a webinar on Wednesday as they try to abide by the rules.

Marco Fogione, its director-general, said exporters were in danger of “inadvertently breaking the law” if they sold products that end up being shipped on to Russia.

He warned this could extend to intellectual property, even if it was just via a web call.

“Most companies would understand that sending a copy of complex designs to Russia would be an export but how many would know that even discussing them over a Zoom call could also be breaking sanctions?” said Mr Fogione.

Several major shipping companies have suspended trade with Russia, including Marsek and MSC, the world’s biggest freight shippers.

Data from analytics firm FourKites showed Russian sea imports were down 28pc week-on-week as of Monday, with the manufacturing and retail sectors seeing drops of 56pc and 26pc respectively.

Britain has already taken the unusual step of banning ships linked with Russia from using UK ports, in a move announced by Transport Secretary Grant Shapps on Tuesday. The Government is pushing through new legislation to enforce the ban.

According to data from VesselsValue, there are four Russian-affiliated vessels due to arrive in the UK between now and Friday. Two are tankers, one is carrying liquefied natural gas and the other is a small dry goods carrier.

Peter Williams, a VesselsValue, said there “could be much greater impact” on trade if other European countries followed the UK’s lead with a ban. EU officials are reportedly considering such a move.

Peter Aylott, policy director at the UK Chamber of Shipping, said the ban could prove legally tricky for British port operators.

“We’re rushing in to ask ports to do the Government’s behest without legal support,” he said. “And I think that puts ports in a difficult place.”