Published On: Mon, May 21st, 2018

Russian ‘Dirty Money’ Laundered Through London Damages Britain, U.K. Lawmakers Say

russian money laundering london

A report by the British Foreign Affairs Committee says Russian ‘dirty money’ laundered through London is damaging Britain, Reuters news agency reported today.

Ever since the poisoning of Sergei Skripal, former Russian military intelligence officer who acted as a double agent for the United Kingdom’s intelligence services, the relations between the U.K. and Russia have been exceptionally tense. Britain has blamed the attack, which happened on British soil, on Kremlin, but Moscow has repeatedly denied any involvement in the incident.

Skripal’s poisoning seems to have renewed the scrutiny of dirty Russian money and its ubiquitous presence in the British capital.

On March 24 this year, the Irish Times published a special report, detailing the rise of Russian oligarchy, as well as its financial exodus to London. The British capital, which aims to be the financial capital of the world, has become the favorite destination of Russian oligarchs looking to flaunt their wealth.

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Russian ‘Dirty Money’ Laundered Through London Damages Britain, U.K. Lawmakers Say