Russian oligarchs hiding wealth in Western havens

FCA - Man Suit Tax Haven

A truism, but one worth exploring further. Russia’s oligarchs and massive state structures are making use of the tax havens created by the west to keep their money and their deals away from prying eyes. Laughably, the prying eyes now belong to the western governments who allowed these secrecy havens to flourish in the first place. The UK government has courted Russian billionaires in the very recent past, keen to secure the glamour and faux prestige of playing home to the world’s obscenely wealthy. It didn’t seem to mind that their money was all offshore. Things look a bit different since the US is encouraging allies to impose tough economic sanctions on some of the same oligarchs and their businesses. The opaque veils of secrecy shrouding offshore funds are doing their job very well – stopping anyone from seeing the people behind the money.

This in-depth article by the 100 Reporters project looks into the role of western ‘enablers’.

 

 

 

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