Cameron on the spot over MPs with £1m stake in Zimbabwe

David Cameron said last week that individuals with dealings in Zimbabwe must 'examine their own responsibilities' and not make investments which could prop up the regime.

But yesterday it emerged that six Tories and one LibDem MP have investments in the country worth at least 1million.

On the spot: Six MPs in David Cameron's party have dealings worth £1m or more with companies in Zimbabwe

Among them is shadow home secretary Dominic Grieve, who holds at least 240,000 of shares in mining firms Anglo American and Rio Tinto, bank Standard Chartered and oil giant Shell - all of which work in Zimbabwe.

Yesterday he defended his position, saying all the shares had been properly declared.

'The Conservative Party has made it clear that companies operating in Zimbabwe must adhere to the highest ethical standards and I fully endorse that view,' said Mr Grieve who was promoted by David Cameron when David Davis resigned to fight a by-election over the 42-day limit on detaining suspects.

Mr Mugabe was sworn in as president yesterday after a meaningless election 'run-off' in which his only opponent had pulled out after weeks of violence and intimidation.

It was the sham poll which prompted Mr Cameron to appeal to businesses and investors.

The revelation that members of his party are such investors will be an embarrassment.

Last night shadow roads minister Robert Goodwill admitted he 'did not feel particularly proud to be a Barclays shareholder' at the present time. He added: 'Anything we can do to bring pressure to bear on this dreadful regime and evil man needs to be done - but I think it is betterto bring pressure to bear as a shareholder. And probably because it is not a very good time to sell the shares.'

Shadow business minister Jonathan Djanogly, who owns shares in Barclays, BP, Shell and Tesco, said shareholders 'should be encouraged to make representations' but made no comment on his own holdings.

Totnes MP Anthony Steen said he was unaware of the Zimbabwe links to his investments in Unilever and Shell and would talk to Mr Cameron about getting rid of the 'evil regime'.

The other MPs involved are Tories Tim Boswell (Barclays and Tesco) and Sir John Stanley (Shell) and Lib Dem Sir Robert Smith (Rio Tinto and Shell). Foreign Office minister Lord Malloch Brown said they had done nothing technically wrong but should 'look carefully' at their investments 'as a matter of conscience and political judgment'.