Nickie Aiken, Member of Parliament for the Cities of London & Westminster is sadly fully aware that the Two Cities holds potentially the largest matryoshka doll of Russian-owned investments in the UK. Oligarchs enjoy the grandest of lifestyles that money can buy.
On Monday (7th) night, Members of Parliament from across the political divide sent the strongest signal that they will rid the UK of dirty money and ensure that those propping up Putin’s regime can no longer hide their dirty money in the UK by passing the Economic Crime Bill through the House of Commons.
The Bill places measures against oligarchs and companies associated with Putin. The register of overseas entities is especially hard hitting and will require anonymous foreign owners of UK property to reveal their real identity to ensure criminals can't hide behind secretive chains of shell companies. In the Chamber, Nickie raised with the Minister, Paul Scully MP, proposals that on day one of the Bill coming into effect, nobody could sell a property that unless it had been registered.
So far, the Government has taken action against Russia with £228 billion in assets frozen and sanctions against 228 individuals, entities and subsidiaries. They will continue to do more.
