Russian money hidden in British assets and laundered through City of London financial institutions damages the government’s efforts to take a tough stance against Moscow’s aggressive foreign policy.

Britain’s financial centre has been a major beneficiary of the massive flight of Russian cash since the 1991 fall of the Soviet Union, and London remains the Western capital of choice for the oligarchs and Russian officials who flaunt their wealth across Europe’s most luxurious destinations. Russian ‘Dirty Money’ in LondonUndermines National Security, U.K. Lawmakers Warn.

• • The UK Foreign Affairs Committee have proposed measures that could tighten the sanctions regime against Russia and limit “dirty money” flows to London in the interests of “national security”.
  • The proposals, made in a report called “Moscow’s Gold: Russian Corruption in the UK”, called for a sanctions regime that combines the best practices of US and EU sanctions against Russia and would broaden the UK’s financial power in its foreign policy.
  • The Committee said there has been a gap between government rhetoric and action on Russia since the attack on the Skripals which should now be addressed.
  • This comes after the US has piled pressure on the EU to support it’s sanctions regime and warned European companies not to do business with targeted organisations and individuals in Russia.

Influential MP’s have called for measures which could tighten the sanctions regime against Russia and reduce flows of “dirty money” into London. …
Independent.co.UK
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