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Friday, July 1, 2022

Russian oligarchs face sanctions threat as UK talks tough

But decades of loose regulation and courting of Russian investors mean that some Putin allies are now so deeply integrated into UK society that it would be difficult to root them out of the city that’s come to be known as “Londongrad.”

Foreign Secretary Liz Truss said Monday that new sanctions legislation would allow the UK government to target a broader range of individuals and businesses with links to the Kremlin.

“Whether you support Russia’s aggressive actions against Ukraine, or you’re of wider significance to the Kremlin, we will have the power to sanction you,” she said. “Nothing is off the table and there will be nowhere to hide.”

The UK government won’t have to look very hard for some oligarchs.

Wealthy Russians flocked to London over the past three decades after gaining entry to the United Kingdom via investor visa programs, according to a report published by the Intelligence…

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