A City law firm has been singled out over its work on deals involving Russian firms
A committee of MPs has warned that the government is putting national security at risk by allowing the City of London to launder the ‘dirty money’ of President Vladimir Putin and his allies.
In a report titled Moscow’s Gold: Russian Corruption in the UK, the Commons foreign affairs committee has said that Russian money was undermining Britain’s criticism of the Kremlin following the poisoning of Russian ex-spy Sergei Skripal and his daughter: “Despite the strong rhetoric, President [Vladimir] Putin and his allies have been able to continue ‘business as usual’ by hiding and laundering their corrupt assets in London.”
“…There is no excuse for the UK to turn a blind eye as President Putin’s kleptocrats and human rights abusers use money laundered through London to corrupt our friends, weaken our alliances, and erode faith in our institutions.”
The committee has also attacked Linklaters, a prestigious law firm in the City, over its work on deals involving Russian companies close to Putin. Linklaters has, however, clarified that it was “very surprised and concerned” at the criticism and rejected any suggestion because the firm works in a particular market it is involved in corruption.