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Rich Russians Flee London Print E-mail
by Tom McGregor    Tue, Jul 22, 2014, 10:22 PM

Rich Russians are fleeing London and taking their assets with them to prepare for a new round of sanctions.

According to the Daily Telegraph of London, "Russian oligarchs are moving money out of London following threats of tough financial sanctions in the wake of the attack on Flight MH17, Downing Street has said. Allies of Vladimir Putin are understood to be reacting after British demands to punish the Russian president’s “cronies.'"

Cameron is quoted as saying that, “The measures that have been taken with regard to individuals and entities has got a correlation with some of the financial flows we have seen across Europe including here in London. That’s certainly the case.”

As reported by the Telegraph, "The European Union on Tuesday agreed to draw up a list of Russians who will face sanctions following the downing of the Malaysia Airlines plane, which killed 298 people. No 10 refused to say which oligarchs were being targeted because of the risk of “asset flight.'"

Many Russian tycoons invested heavily into London and they are likely to take their cash elsewhere.

To read the entire article from the Daily Telegraph of London, link here:

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