Oligarchs and property in the UK, Water in the UK
When Vladimir Putin launched all-out war on Ukraine a year ago, the British government realised that letting Russian oligarchs buy large chunks of west London had been foolish. The long-cherished belief that the civilising air of Eaton Square might turn kleptocrats into democrats was finally - if belatedly - abandoned. The fruit of the government's realisation is the register of overseas owners of UK properties, which ended the anonymity of oligarchs who hid their mansions behind offshore-registered shell companies. The register has had some teething problems... but surely the bigger picture is that this enduring loophole in our transparency rules is finally closed, and the playing field levelled, right? Wrong. A huge loophole still exists, which renders last year's reform pretty much meaningless, and which almost no politicians have noticed... But it is a fundamental principle of the British justice system that if new regulations affect wealthy people, lawyers will seek ways...
