Countering Russian Aggression and Tackling Illicit Finance

Mike Amesbury Excerpts

Wednesday 23rd February 2022 Commons Chamber

[Amanda Milling]

I thank the hon. Gentleman for his intervention. I would say that we absolutely are leading, with our allies. I will come on to the package of measures and some of the points that have been raised, as well as what we will go on to do.

The UK is one of the largest and most open economies, and London is one of the world’s most attractive destinations for overseas investments. Those factors not only make the UK attractive for legitimate business, but expose the UK to illicit finance and money laundering risks. We are well aware that individuals with links to the Russian state may seek to further their reputation and influence in the UK through strategic investments. We continue to look in close detail at the nature of those relationships. We examine the intentions of those individuals; professional enablers, individuals or entities who facilitate corrupt elites; and what that money can be and is being used for in the UK.

Money obtained through corruption or criminality is not welcome in the UK or in our Crown dependencies and overseas territories. The Government are at the forefront of tackling illicit finance, combating the threat from source to destination, including those linked to Russia.

[Mike Amesbury (Weaver Vale) (Lab)]

Does the Minister share the concerns of our security services that Putin and Russian individuals who happen to be Tory donors could have undue influence in this House or the other place?

[Amanda Milling]

We are conscious of all influences from different states. I will come on to some of the measures that the Government have taken to combat illicit finance and some measures that we will take forward.