LONDON– Britain threatened on Tuesday to block Russian companies from raising capital in London and to expose property and company ownership if Russia invades Ukraine, saying the West must remain united on the cost to Moscow of any conflict.
Russia has massed troops and military equipment on the Ukrainian border, drawing warnings from Britain, the United States, European Union and other allies of drastic economic sanctions the moment any invasion occurs.
This follows years when London was viewed as a particularly favourable destination for Russian oligarchs and their immense assets, with a 2020 UK parliamentary report saying that such a move had allowed illicit finance to be recycled through what has been referred to as the London “laundromat”.
Russia, which is demanding a set of security guarantees from the West, says it has no plans to invade Ukraine and on Tuesday Moscow said some military units were returning to their bases.
British Prime Minister Boris Johnson told reporters the government would target Russian banks and Russian companies.
“We’re…making sure that we take steps, or take even more steps, to unpeel the facade of Russian property holdings whether in this city or elsewhere…, unpeel the facade of Russian ownership of companies,” he said.
SOURCE: REUTERS
