“Moscow’s Gold: Russian Corruption in the UK”

A report published on 21st of May 2018, by Parliament’s Foreign Affairs Committee “Moscow’s Gold: Russian Corruption in the UK” accused the UK of failing to stand up against the Kremlin after poisoning of ex-Russian spy Mr Skripal and his daughter Yulia in Salisbury in March this year. The report says that despite strong rhetoric over recent actions of Russian government, Russian businessmen are still able to continue “business as usual” in the UK by “hiding and laundering their corrupt assets in London”.

MPs warned that the UK government is putting national security at risk allowing the corruption stemming from the Kremlin. “On 16 March – two days after the government announced the expulsion of 23 Russian diplomats from the UK – Russia raised $4bn (£2.97bn) in eurobond issuances, nearly half of which were bought by investors from the UK,” the report said. A day earlier Russian energy company Gazprom PJSC made a £500m bond sale, some of which were bought by UK investors.  “The ease with which the Russian government was able to raise funds in London despite the strong measures that the government took in the wake of the Salisbury attack raises serious questions about the government’s commitment to combating Russian state aggression,” the report said. The committee insists to take further actions to stop “dirty money” flowing into the UK. The committee proposed to work closely with international allies in order to stop companies, which are sanctioned in other jurisdictions from trading in the UK and using its markets by shutting the “loopholes” in the law, which make it possible to go around the sanctions. The report further suggested that British government should impose new sanctions on oligarchs and officials who are closely linked to President Putin’s regime.