UK’s ‘Moscow’s Gold’ Corruption Report Example of ‘Russophobia Mania’

Sputnik
May 21, 2018

MOSCOW (Sputnik) – The UK House of Commons’ Foreign Affairs Committee issued on Monday a report “Moscow’s Gold: Russian Corruption in the UK”, in which it called on the country’s government to boost sanctions against people close to Kremlin as well as those responsible for human rights violations.

“We call on the Government to sanction more Kremlin-connected individuals, including by using the powers outlined in the Sanctions and Anti-Money Laundering Bill, once available, to sanction individuals responsible for gross human rights violations,” the report said.

The committee also asks the UK government to work with the United States, the European Union and the G7 countries to tighten the sanctions regime on the Russian sovereign debt.

“We also ask the Government to work with the EU, US and G7 to tighten loopholes in the sanctions regime that allow Russia to issue new sovereign debt with the assistance of sanctioned entities such as VTB Bank,” the report said.

The UK House of Commons’ committee said that the flotation of Russia’s En+ Group on the London Stock Exchange in November 2017 was an example of the contradictions of the UK government policy toward Russia.“We call on the Government to investigate the gaps in the sanctions regime that allowed a company such as En+ to float on the London Stock Exchange, and to work with the G7, whose markets dominate the financial world, and other international partners, to close those gaps as soon as possible,” the report said.

The committee added that the use of London as a “base for the corrupt assets of Kremlin-connected individuals” had implications to the UK national security. Combating alleged Russian corruption schemes in the United Kingdom should be a foreign policy priority for the UK government, according to the report.

Reacting to the report…

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