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The moral dilemma facing Britons on Russian boards

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Outrage over invasion of Ukraine leaves executives under pressure to resign and governance mechanisms in shreds

The Order of Friendship of the Russian Federation is a star-shaped golden medal, encrusted with blue enamel, showing a map of the world. Last year, as Russia was beginning to ration supplies of gas to Europe and Vladimir Putin was planning his assault on Ukraine, Roger Munnings announced he had been named as the medal’s latest recipient.

The former long-serving head of KPMG’s Russian operations, Munnings is a director of three firms of major strategic importance Putin’s regime: Lukoil, Nornickel and the banking to telecoms conglomerate Sistema.

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