UK Must Deal With Russian Money Flooding London, Says Boris Johnson

Britain has an issue with Russian money funneling through the City of London and it must be dealt with, Prime Minister Boris Johnson told Kate Holton of Reuters.

Photo Insert: The official portrait of UK Prime Minister Boris Johnson

Johnson has threatened to impose harsh sanctions on Russia if it invades Ukraine, with Russian companies blocked from raising capital on financial markets and the ownership of companies and properties revealed. "We have an issue with Russian money in the city," Johnson told the BBC. "We've got to deal with that."

Earlier, Daily Express of the UK reported that Russian oligarchs close to Russian President Vladimir Putin have bought prime property in London, pushing out British buyers and pushing Britons to tag London as Londongrad.

However, some of these oligarchs have formed businesses in London and taken British citizenship, compounding Johnson’s problem in imposing sanctions against them. Johnson’s critics have said Putin’s cronies are close to Tory lawmakers and the Johnson government itself.

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