EN+’s journey from blockbuster flotation to ignominy appears to be almost complete after the London Stock Exchange said it would suspend trading in the sanctions-hit energy giant from tomorrow.

The Russian aluminium and power company, which raised $1.5bn (£1.1bn) with much fanfare in a placing last November, has been crippled by punishing sanctions imposed by the US last month on companies and individuals linked to Vladimir Putin.

The LSE said it would halt trading in EN+’s global depositary receipts – certificates that allow UK investors to hold its shares – from 5:15pm tomorrow.

Under the sanctions, EN+ will not be allowed to trade in US dollars from May 7, effectively freezing it out of international...