U.K. cracks down on Russian oligarchs bringing wealth into country

British lawmakers say the flood of rubles from super-wealthy Russian expats could be a threat to national security in the U.K.

The British capital known as 'Londongrad' has been a hot spot for Russian expats

The U.K. has been reviewing investor visas of Russian oligarchs including Roman Abramovitch, the owner of Chelsea FC, who reportedly withdrew his application after a delay in renewing his visa. (Getty Images)
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A new report from a British House of Commons committee recommends sweeping new measures to restrict the influence of Russian money in London, England.

Nicknamed 'Londongrad,' the British capital has become a magnet for wealthy Russian expats in recent years.

The report called Moscow's Gold: Russian Corruption in the U.K. aims to counter Russian state aggression by curbing the free flow of Russian money into the country.

"The use of London as a base for the corrupt assets of Kremlin-connected individuals is now clearly linked to a wider Russian strategy and has implications for our national security," the report reads.

The Current's Anna Maria Tremonti discussed how Russian wealth made its way into Britain with:

  • Mark Hollingsworth, a journalist and co-author of Londongrad: From Russia With Cash.
  • Roman Borisovich, a former investment banker turned anti-corruption campaigner.
  • Tom Keatinge, director of the Centre for Financial Crime and Security Studies at The Royal United Services Institute.

Listen to the full conversation near the top of this page.


This segment was produced by The Current's Kristian Jebsen and John Chipman.

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