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‘Londongrad’ Undermines U.K.’s Tough Talk on Russia Sanctions

  • Russians have invested about $2 billion in London property
  • Economic crime bill may be further delayed: legislator

The ease with which Russian billionaires can stash billions of dollars in property and other assets in London is taking the bite out of the U.K.’s tough talk on sanctions against Russia for any incursions into Ukraine.

Reports this week that a key piece of legislation designed to fight money-laundering and dirty money inflows into the U.K. from Russia and elsewhere may be delayed aren’t helping.