UK ‘weakening threat to Kremlin by failing to close property loophole’
2022-02-21 10:50:03 source：The Guardian
February 20, 2022
Britain has frustrated its EU allies and weakened the west’s financial threat to the Kremlin by failing to close a loophole that will ensure London real estate remains a safe haven for Russian money, according to diplomatic sources in Brussels.
New legislation, described as the “toughest ever” by the foreign secretary, Liz Truss, gives the UK government powers to freeze the assets of individuals linked to the Russian state in the event of an invasion of Ukraine but fails to “capture” property owned via anonymous offshore structures.
The irritation in EU capitals at the perceived hole in the UK’s sanctions threat has only been exacerbated by Boris Johnson’s repeated calls in recent days for European governments to “wean” themselves off dependency on Russian gas.
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