MOSCOW: Corrupt Russian oligarchs sheltering dirty money in Britain’s overseas territories will be exposed under laws set to be forced on Theresa May next week, The Times reports.
Tax havens such as the British Virgin Islands and Cayman Islands have so far resisted moves to follow the UK’s lead and reveal to public view the identities of those benefiting from assets held under their jurisdictions.
Campaigners say that the secrecy enables money laundering, which in turn facilitates criminality, corruption and oppression, including in Russia.
The prime minister has promised tougher measures against President Putin’s cronies after the poisoning of the former Russian spy Sergei Skripal and his daughter, Yulia, in Salisbury last month.
Next week a coalition of Tory rebels, Labour, the SNP and other opposition parties will challenge Mrs May to match her rhetoric with action when new sanctions legislation is debated in the Commons. Andrew Mitchell, the former international development secretary who is leading the Tory rebellion, said last night that he had the “certain” backing of 19 Conservative backbenchers, more than enough to defeat the government.
Urging the government to back down, Mr Mitchell said: “Mrs May has so far led the world in taking a stand against Russia’s challenge to international norms. But if she is to deliver on her promises she must ensure that filthy money fuelling the worst abuses isn’t sheltering under a British flag anywhere in the world.”
A list of MPs expected to back the move, seen by The Times, includes senior MPs such as Tom Tugendhat, Nicky Morgan, Sarah Wollaston, Ken Clarke, Nick Herbert and Nick Boles.
