London Daily

Focus on the big picture.
Thursday, Oct 30, 2025

Dodgy Russian money has destabilised Britain's democracy. We have to crack down on it

Dodgy Russian money has destabilised Britain's democracy. We have to crack down on it

Conservatives have taken cash without asking tough questions. Even now they have no credible plan to clean up ‘Londongrad’, says transparency campaigner Gina Miller
In 2010 I was approached on behalf of a Russian multimillionaire offering £30m. I’d recently launched a philanthropic foundation to help grassroots charities cope with the aftermath of the financial crisis.

We attracted a lot of support from individuals with genuine motives, but soon we were being approached by professional philanthropy advisers – a recently established money-making trade created by wealth managers and “private offices”. But on this occasion an adviser from a luxury concierge firm told us it had a Russian client willing to give us a huge sum to help us start up.

But there were strings attached. The client and his wife had to be invited to charity events attended by royalty, politicians, celebs and opinion formers. We would have to seek out big-brand arts and culture organisations, high-profile sports such as polo, and several named military charities, taking them on as trustees or board members. And they would have to have a say on the charities we funded, including charities in Belarus and Romania.

These demands rang alarm bells. The adviser boasted that he had helped this family to set up a charitable trust and other lucrative services that were earning his firm fat fees.

Even back then, questions were raised about the ability to move large sums of money out of Russia without permission from Vladimir Putin. There was a lot of good we could have done with such a vast sum, but it would have compromised all my principles.

The Conservative party and some of its MPs – Boris Johnson and David Cameron among them – have, of course, been less choosy. This is what makes it very difficult for the prime minister to talk with any credibility about making life tough for rich Russians: he has defended donations made to his party by close Putin associates. On this issue, he is only now keen to talk the talk – but he still won’t walk the walk: there are no timelines or details about enacting laws to clean up “Londongrad”, or indeed dirty money flowing in from numerous dubious sources around the world.

It is generally assumed that Russians often pump their roubles into our society because they crave social respectability. On the contrary, it has long been part of a systematic attempt to destabilise our institutions, most notably our parliament, press and democracy.

Johnson and consecutive Conservative governments have been well aware that the lack of transparency over this cash was a scandal waiting to be exposed. But they have been willing to turn a blind eye for as long as they could benefit.

The ecosystem of enablers includes wealth managers, banks, private equity houses, accountants, lawyers – and the growing army of philanthropy advisers, lobbyists, and thinktanks – who have been complicit in the infiltration by those close to Putin of not just our political infrastructure, but our property market, businesses, charities, public bodies, arts, culture, and sports.

I have crossed paths with many of these during my time vocally campaigning against dodgy practices in the City, and remember that many of us were shocked that in 2018, the British government allowed Oleg Deripaska, a Russian oligarch with links to companies that produce Russian military equipment, to raise an estimated £1bn on the London stock exchange.

US security services concluded that examples like this impacted on the government’s ability to tackle important national security issues.

Nor should we ignore the impact of Russian money on the Brexit campaign. In a 2017 Guardian article, I wrote:

“Think of Brexit as a matryoshka, or a Russian nesting doll, with voting to leave the EU as the outer doll … Pulling off the outer doll reveals another doll that represents something much more worrying.”

Today, the rot has been exposed, but words are not enough to restore the reputation and integrity of our institutions. What we need is a raft of robust “cleaning-up” laws, including more stringent checks and due diligence before new organisations can register with Companies House or the Charity Commission, greater scrutiny of trustees, and a register of funders of thinktanks. Professional services must use their expertise and insight to protect the stability and security of our country, and the wider western world – they should not be facilitators of the kind of evil we are now seeing in Ukraine.

Johnson’s government is at least now making some attempts to close loopholes that have for too long allowed dark money into London, making it the money laundering capital of the world. It is time for us to remember that there are some things that money must not be allowed to buy – our morals and integrity.
Newsletter

Related Articles

0:00
0:00
Close
UK and Vietnam Sign Landmark Migration Deal to Fast-Track Returns of Irregular Arrivals
UK Drug-Pricing Overhaul Essential for Life-Sciences Ambition, Says GSK Chief
Princesses Beatrice and Eugenie Temporarily Leave the UK Amid Their Parents’ Royal Fallout
UK Weighs Early End to Oil and Gas Windfall Tax as Reeves Seeks Investment Commitments
UK Retail Inflation Slows as Shop Prices Fall for First Time Since Spring
Next Raises Full-Year Profit Guidance After Strong Third-Quarter Performance
Reform UK’s Lee Anderson Admits to 'Gaming' Benefits System While Advocating Crackdown
United States and South Korea Conclude Major Trade Accord Worth $350 Billion
Hurricane Melissa Strikes Cuba After Devastating Jamaica With Record Winds
Vice President Vance to Headline Turning Point USA Campus Event at Ole Miss
U.S. Targets Maritime Narco-Routes While Border Pressure to Mexico Remains Limited
Bill Gates at 70: “I Have a Real Fear of Artificial Intelligence – and Also Regret”
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Amazon Announces 14 000 Corporate Job Cuts as AI Investment Accelerates
UK Shop Prices Fall for First Time Since March, Food Leads the Decline
London Stock Exchange Group ADR (LNSTY) Earns Zacks Rank #1 Upgrade on Rising Earnings Outlook
Soap legend Tony Adams, long-time star of Crossroads, dies at 84
Rachel Reeves Signals Tax Increases Ahead of November Budget Amid £20-50 Billion Fiscal Gap
NatWest Past Gains of 314% Spotlight Opportunity — But Some Key Risks Remain
UK Launches ‘Golden Age’ of Nuclear with £38 Billion Sizewell C Approval
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
×