Mayor of London proposes to confiscate $1.4 billion worth of Russian businessmen's property
Kyiv • UNN
The Mayor of London proposes to confiscate $1.4 billion worth of Russian oligarchs' London real estate to accommodate Ukrainian refugees.
London Mayor Sadiq Khan has proposed to confiscate the property of Russian businessmen who have been subject to British sanctions. This is reported by LBC radio station with reference to Khan's letter to the Minister of Regional Development and Housing Michael Gove, UNN reports .
Details
The total value of the Russian businessmen's property is 1.1 billion euros ($1.4 billion), the letter says. The mayor of London proposes to sell it and use the money to build 4,000 homes for low-income citizens, including Ukrainian refugees in the UK.
I am concerned that financial trusts can still be used to disguise property ownership... Ministers must urgently take action to confiscate property bought by Putin's associates so that we can use the proceeds to benefit those in need
In a message to Michael Gove, the London mayor clarified that after the outbreak of hostilities in Ukraine, he called on the government to confiscate the assets of Russian businessmen and create a register of foreign real estate owners in the city. He added that the current measures are not enough to avoid tax evasion and asset hiding.
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Earlier, Sadiq Khan allowed the transfer of old cars to Ukraine that are subject to disposal.
