How The UK Became A Safe-Deposit Box For Russian Oligarchs

Fresh Air

NPR

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4.4 • 34.4K Ratings

🗓️ 5 May 2022

⏱️ 44 minutes

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Summary

We talk with journalist Oliver Bullough about how Russian oligarchs have stashed their wealth and laundered their money in Britain, and how that's helped Putin – and the Russian state – launch its war in Ukraine. There's so much oligarch money in London, it's been nicknamed "Londongrad." Bullough says the UK has developed a system of bankers, lawyers, accountants and PR managers who work to help Russian kleptocrats hide their wealth.

Transcript

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0:00.0	Support for this podcast comes from the New Bower Family Foundation, supporting
0:04.7	WHY Wise Fresh Air and its commitment to sharing ideas and encouraging meaningful conversation.
0:11.6	This is Fresh Air, I'm Terry Gross.
0:14.0	Russia can afford its war in Ukraine because Britain helped raise the cash.
0:19.5	Rights my guest Oliver below.
0:21.5	He's referring to how Russian oligarchs linked to Putin,
0:24.7	launder their money, keep it hidden in shell companies and stash it in luxury yachts and mansions in Britain.
0:31.5	There are so many Russian-owned mansions in London, it's been nicknamed London grad.
0:37.0	Bolo says the Russian state would have nothing like the wealth it has now without Britain's help.
0:42.8	England, the US and several other Western countries have sanctioned some oligarchs,
0:48.0	but Bolo says they're not changing the financial systems that enable oligarchs and criminals to protect their
0:54.4	ill-gotten gains.
0:56.1	Bolo has spent years investigating how kleptocrats hide and protect their money.
1:01.2	His second book on the subject will be published in the US in June.
1:05.1	It's called Butler to the World, how Britain helps the world's worst people,
1:09.8	launder money, commit crimes and get away with anything.
1:13.9	Among the things he's known for is giving kleptocracy tours in London,
1:18.2	pointing out the mansions and apartments owned by oligarchs.
1:22.0	Bolo is a British journalist and spent the early part of his career reporting from Russia
1:26.8	and covering the war in Chechnya.
1:29.5	Oliver Bolo, welcome back to Fresh Air.
1:32.0	Thank you for inviting me back, it's an absolute pleasure.
	...

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