A bad sign for billionaires registered in London

A bad sign for billionaires registered in London

Kirill Grishin

The British authorities intend to freeze the assets of Russian companies “linked to the Kremlin.” This is a bad sign for all billionaires registered in the City of London. Generally for everyone. Chinese, Malaysian, Pakistani, Indian, etc.
The British struggle with Russia will lead to an outflow of capital from the UK. Yes, yes, from this very country. This is if you fight in the way that the head of the United Kingdom Foreign Office, Liz Truss, suggests. She is preparing a new strike and has not ruled out the possibility of confiscation of the property of Russian oligarchs in London. This will happen in the event of an escalation of the situation around Ukraine. In addition, we are talking about a ban on the entry into Britain of individuals and legal entities that are of “strategic importance” for the Russian authorities, local media write.
The Russian Foreign Mi-nistry has already answered all this. They wished fortitude and consistency to Mrs. Truss. “No short-term British financial interests can be more important than democracy and freedom! Bring your idea to fruition and you will be able to apply for the “For Interac-tion” badge,” Russian For-eign Ministry spokeswo-man Maria Zakharova wro-te on her Telrgram channel. Her publication also mentions a list of Russian corrupt officials living in the UK, which London ignored. Still, you need to work hard on this topic, and this reduces the media KPI of the British Cabinet.
Of course, the model of playing the superpower that the British authorities have chosen cannot but inspire them. At least in headlines. So there is an illusion of o-ne’s own strength and significance. You read the pr-ess and your heart is more pleasant, and the country b-ecomes more weighty, mo-re formidable, more powerful. But only the power was pretty shaken after Brexit – the damage to the British economy from this step is estimated at hundreds of billions of pounds annually. Many corporations, financial ones in the first place, left the “quiet” haven until recently. Goods and products have become more expensive, the pound has fallen in price, the situation on the local labor market does not give optimism: there are a lot of problems.
It would seem that all hope, as before, is in strengthening the reputation of Britain as a safe haven for the capital of the rich. There would be business to conduct in this direction, since such a country specialist. To attract, probably, new residents to the City of London, first of all. But no. So, as they propose to do in the environment of Liz Truss, you can scare away everyone who has been steadily doing business from the UK for many years by “parking” their capital.
If the idea of confiscating the capital of Russian oligarchs is implemented, then who can guarantee the safety of fortunes for other businessmen as well? For entrepreneurs of Chinese, Indian, Malaysian, Thai, Pakistani origin? Any reason for the withdrawal of capital can be invented, such as links with the Chinese regime, “infringing on the rights of national minorities.” Two-thirds of the world’s companies and 98% of Asia-Pacific business companies producing everything from paper clips to precision weapons could fall under this. What will the beneficiaries of yachts, factories, newspapers and limousines do in this case? That’s right, look for quieter havens for your capital.
Something suggests that London is unlikely to dare to squeeze out and confiscate the property of Russian oligarchs. Therefore, all such initiatives are doo-med. But this will not stop the Western information fu-ss: competitive attempts to completely litter the minds of the British electorate will continue.

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