Russia’s Dirty Money in the UK

London has become a safe haven for the Russian business elite and their cash. Now the interdependence comes under scrutiny.

• The United Kingdom is leading Europe in its conflict with Russia and its struggle to protect Ukraine. But it has its own weak spot: the billions Russian oligarchs are hoarding in Britain.
• Experts from the US and British MPs warn that Russian money in the UK could undermine the common response against Russia in the current debate.
• Russian businessmen are heavily intertwined with London’s business community. They constitute an important factor in the real estate market as well as in the financial district.
• While a lot of this business is legal, some activities amount to money laundering. Critics are pointing out that Russia’s political and economic elites uses London as a safe haven.
• With the conflict surrounding Ukraine intensifying some procedures come under scrutiny – like the scheme to fast-track applications for British residency by Russian millionaires.