TIMES.KY

Cayman Islands, Caribbeanand International News
Saturday, Apr 01, 2023

The problem with the UK’s Russian clamp down

The problem with the UK’s Russian clamp down

I’m no apologist for oligarchs, whether they be from Russia or anywhere else. I have been writing for years about how dirty money was flooding into London’s property market, helping to price out ordinary people who just want a home.
The government should have taken action decades ago to prevent kleptocrats from laundering their money through London property and their reputations through our libel courts.

These matters could have been addressed quite easily by prohibiting property from being held in the name of overseas private companies and by reforming libel laws to stop the wealthy from threatening journalists and anyone else with eyewatering legal bills.

Yet I feel uneasy at the speed at which things seem to have turned – to the point at which government ministers seem to feel entitled to seize property and other assets without much in the way of evidence that they are ill-gotten gains. Yesterday, housing secretary Michael Gove told a committee of MPs that the government was thinking of speeding up legislation to make it easier to seize assets under so-called 'unexplained wealth orders' – which force people to provide an explanation for how they came by their money, or lose it.

It might sound reasonable enough in the context of Putin’s cronies with property in London, but it runs somewhat counter to the principle of being innocent until proven guilty. Could I prove that every penny in my bank account, or every pound with which I bought my house two decades ago, was honestly earned? I am not sure the required documentation exists. It is all too easy to see how heavy-handed legislation passed hurriedly to deal with Putin’s cronies could end up being used against ordinary taxpayers.

What must it feel like to be an honest Russian business owner in Britain at the moment? Much as some might like to think of Russia as being made up entirely of oligarchs and peasants, such people do exist. They will have been chilled to hear Sir Roger Gale, Conservative MP for North Thanet, propose that every single Russian citizen living in Britain have their visa cancelled and be ejected from the country. Among the people Sir Roger would like to deport back to Russia are dissidents who came to Britain to escape Putin’s dictatorship, who already suffer the possibility of being served a dose of Novichok. They are people we need on our side; not trying to treat them as if they were the Russian leader’s henchmen. And to think that only a few weeks ago Sir Roger was trying to pose as the Conservative party’s moral conscience over partygate.

Go after Putin’s cronies by all means, and disarm their wealthy London lawyers (how about large fines for lawyers who use threatening letters, just as we prosecute Twitter users who made threats?). But please don’t let us descend even slightly towards the level of Putin by undermining the rule of law and having a state which helps itself to fistfuls of individuals’ money at a whim. And let’s stamp out anti-Russian prejudice before it has a chance to take hold. Ordinary Russians, just like Ukrainians, are Putin’s victims too.
Newsletter

Related Articles

TIMES.KY
Close
0:00
0:00
Don’t Dismiss China’s Peacemaking Bid
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
Nashville style execution
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
Former Starbucks CEO Howard Schultz:
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
AMERICA, 2023
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
AOC explains why she opposes banning TikTok
UK: Humza Yousaf replaces Nicola Sturgeon as SNP leader and first minister in Scotland
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
Gordon Moore, a co-founder of Intel Corporation, died at 94
Powell: Silicon Valley Bank was an 'outlier'
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Home Secretary Suella Braverman tours potential migrant housing in Rwanda as asylum deal remains mired in legal challenges
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
Jeremy Hunt insists his Budget will get young parents and over-50s back into work
If this was in Tehran, Moscow or Hong Kong
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Mexican President Claims Mexico is Safer than the U.S.
A brief banking situation report
Lady bites police officer and gets instantly reaction
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Silicon Valley Bank exec was Lehman Brothers CFO
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
BBC Director General, Tim Davie, has apologized, but not resigned, yet, following the disruption of sports programmes over the weekend
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Fitness scam
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Senator Tom Cotton: If the Mexican Government Won’t Stop Cartels from Killing Americans, Then U.S. Government Should
Banking regulators close SVB, the largest bank failure since the financial crisis
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
×