UKP Russian Corruption in UK

On May 21, UKP foreign affairs panel issued report on Russian money.

  • UK be serious about confronting full scope of President Putin’s offensive measures.
  • Robust rhetoric from Prime Minister, following attempted murder of Sergei Skripal and his daughter has been undermined by business as usual sign on UK front door.
  • Report says the use of London as base for the corrupt assets of Kremlin-connected individuals is now linked to wider strategy with implications to UK national security.
  • The panel said that tackling this should be major priority for the UK foreign policy.
  • As direct relationship between wealth and Putin's aggressive foreign policy agenda.

Chair Comments

  • Panel chair Tom Tugendhat said that the scale of damage that the dirty money can do to UK foreign policy interest dwarfs the benefit of Russian transaction in the City.
  • No excuse for UK to turn blind eye as Putin’s kleptocrats and human rights abusers use money laundered through London to corrupt our friends, weaken our alliances.
  • 2018 National Security Capability Review made clear, money laundering is a foreign policy issue, as it affects national security, made recommendations to Government.
  • UK must be clear that corruption stemming from the Kremlin is no longer welcome.


  • Close gaps in sanctions regime allowing firms to use UK markets but be sanctioned elsewhere, close loopholes that allow debt issuance be used to go around sanctions.
  • Extend sanctions to target more individuals who are closely linked to President Putin, including using Magnitsky powers, in the Sanctions and Anti-Money Laundering Bill.
  • Crack down on ML by accelerating promotion of corporate ownership transparency.