How Russia’s Elite Have Used London’s Luxury Market to Launder Money and Secure Power

For decades, London has been a magnet for Russia’s oligarchs, offering them a safe haven for their vast fortunes. The city’s luxury property market has flourished thanks to investments from Russia and former Soviet states, with mansions boasting opulent features like swimming pools, art galleries, and vintage car collections. Estate agents, lawyers, accountants, and architects have all profited from this influx of “suspicious wealth,” making the capital one of the world’s most attractive destinations for those seeking to hide their ill-gotten gains.

However, the connection between London and Putin’s inner circle has come under scrutiny as Russia’s invasion of Ukraine has brought the activities of the country’s elite into sharp focus. For years, campaigners and organizations like Transparency International UK have raised concerns about the influx of wealth from authoritarian regimes, but these warnings were largely ignored until the current crisis. Now, the scale of London’s complicity in hosting Putin’s cronies is more apparent than ever, with critics demanding accountability for the city’s role in enabling corrupt practices that have fueled global instability.