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Russian Boomerang Hits UK, Oligarchs Shift Assets From London

Tyler Durden's picture


We warned 4 months ago that the UK especially should be fearful of sanctioning Russia and biting the hand that feeds its real estate recovery. However, it appears Cameron's ire has got the better of him, as The Telegraph reports, allies of Vladimir Putin are understood to be moving assets after British demands to punish the Russian president’s 'cronies' in the wake of the Malaysia Airlines disaster in Ukraine. The EU said Tuesday (albeit somewhat confusingly) that it had agreed to draw up a list of Russians who will face sanctions but the UK government refused to say which 'oligarchs' were being targeted as it was fearful of the risk of 'asset flight'. It appears that backfired...


As The Telegraph reports,

Russian oligarchs are moving money out of London following threats of tough financial sanctions in the wake of the attack on Flight MH17, Downing Street has said.
Allies of Vladimir Putin are understood to be reacting after British demands to punish the Russian president’s “cronies”.


The European Union on Tuesday agreed to draw up a list of Russians who will face sanctions following the downing of the Malaysia Airlines plane, which killed 298 people.




No 10 refused to say which oligarchs were being targeted because of the risk of “asset flight”.




Asked whether oligarchs were already moving assets out of London, the Prime Minister’s official spokesman said: “The measures that have been taken with regard to individuals and entities has got a correlation with some of the financial flows we have seen across Europe including here in London. That’s certainly the case.”

*  *  *

Who will buy the next $150 million apartment? Or is the Bank of England's big chance to keep rates lower for longer as 'noise' hits the recovery?

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Thu, 07/24/2014 - 08:26 | 4997333 Dubaibanker
Dubaibanker's picture

If the currencies in emerging markets keep depreciating at the speed that they have been, over the last 5 years, more money flows may be expected regardless, into the UK, just to safeguard the 'value' of assets from all the emerging market countries. 

Top end luxury market may slow down a bit but the Chinese are already there. Arabs may also be slowing down but then the rest of Middle East is there. Indians and Singaporeans are the biggest buyers too over the last few years. 

Thu, 07/24/2014 - 08:43 | 4997378 SafelyGraze
SafelyGraze's picture

time to implement "gates" on withdrawal

that strategy will promote the orderly withdrawal of assets by these irresponsible depositors/investors


Thu, 07/24/2014 - 09:16 | 4997479 Oracle of Kypseli
Oracle of Kypseli's picture

I just withdrew my two hundred pounds and closed my account in the UK. Bastards!

Thu, 07/24/2014 - 09:46 | 4997615 Miles Ahead
Miles Ahead's picture

@DubaiBanker.  Well sounds like everything will be just A-OK and the moves against the Russians will be without significant consequence.  Swell.

(Other than Arabs (and the O.T.) the rest of the Middle East is who exactly?)

Thu, 07/24/2014 - 10:08 | 4997768 Keyser
Keyser's picture

I'm sure the new BRICS bank would welcome the deposits... And so it goes, cutting off nose to spite face... 


Thu, 07/24/2014 - 13:28 | 4999141 MarsInScorpio
MarsInScorpio's picture

What happens when the MH-17 false flag comes completely apart? Who will be put on trial in the West for the murder of those innocent victims of Deep State terrorism?


I found this post on it, and thought it is too good for as many people as possible to read. The first-person "I" in the post refers to the original writer, and not to me:


A fuller version of what happened starts emerging piece by piece. First, as I pointed out earlier, in one his daily battle reports, Strelkov or his associates indicated as if in passing that the Malaysian airliner, Boeing 777, was shot down by Ukrainian jet fighters. Then came the briefing by the Russian Ministry of Defense, which showed a Ukrainian SU-25 within 3-5 km from the Boeing at the very moment when the Boeing was hit. In the next four minutes, the Ukrainian fighter remained in the area. At the moment, when the Boeing was hit, it was also within the range of several Ukrainian Buk batteries, which were deployed close to Donetsk and then, just for that very day, 8km south of Shakhterskoye, which is also only several miles from the crash site.

Today (July 23), Anna-News published an interview with a Russian Air Force retired colonel Aleksand Zhilin (????????? ?????) who is a frequent military commentator on the conflict in Ukraine. The most important information is stated at 2:00-5:00 in the interview.

According to the colonel, at 16:19:45, a Ukrainian jet fighter targeted the Boeing with an air-to-air missile R-60. The missile damaged the right engine of the Boeing. The Boeing was hit, but still managed to stay in the air. However, in doing so, the Boeing turned 180 degrees to the left. It was at this moment that the false flag attack started falling apart. According to Zhilin, part of the plan controlled by the US with Ukrainian hands executing it was to have the Boeing crash past the southern frontline by the Ukrainian-Russian border. Had the Boeing fallen there, securing the crash sites with the troops in response to international pressure was on top of all else effectively allow Kiev to lift the encirclement of its brigades in the southern pocket by the Russian border.

When, however, the Boeing started to turn in the opposite direction and was still apparently manageable, "the US-Ukrainian headquarters of the special operation panicked and order the Buk battery to destroy the plane in the air in order to pre-empt the possibility of the Boeing's emergency landing." A Buk missile was fired and the plane was then finally destroyed.

The disclosure of the Russian electronic intelligence (in fact, only one part of it) on July 21 put the US against the wall. The existence of this intelligence and other data also means that the US cannot show the real intelligence, which they also have, including the data from their electronic warfare exercise SEA BREEZE 2014 and the data from their spy satellite, which just happened to be over the area during the downing of the Malasysian Boeing.

The other relevant information, which the Russian colonel revealed, was that the Malaysian Boeing was insured for $97 million against damages or losses as a result of military actions.

Fri, 07/25/2014 - 04:49 | 5002568 SF beatnik
SF beatnik's picture

Ya think the Artist Taxi Driver will buy that 150 million dollar apartment?

Fuck no, he won't.

Can ya get that in yur nut? 

Thu, 07/24/2014 - 09:49 | 4997622 Manthong
Manthong's picture

Well, all of the nice innocent, lily-white clean oligarchs with money in western banks have absolutely nothing to worry about.. especially those with paper gold assets.

Maybe they should trust the Swiss.

Oh, wait a minute..



Thu, 07/24/2014 - 12:02 | 4998620 moonstears
moonstears's picture

Well. I'd deposit 200 pounds with the Brits, to support, if not for the fuckin' offshore money laws in the USA!


Thu, 07/24/2014 - 08:22 | 4997334 LostandFound
LostandFound's picture

What a dumb fuck Cameron is....

Thu, 07/24/2014 - 08:39 | 4997366 Ghordius
Ghordius's picture

poor, poor Cameron, he has still not understood how pissed nearly all the other governments in the EU are about his policies

in Scotland protesters are using panda costumes. to highlight the fact that Scotland has more pandas (2) than Tory MPs (1)

Thu, 07/24/2014 - 09:02 | 4997434 Winston Churchill
Winston Churchill's picture

Scotland has always had a dispoportionate number of safe labour seats, and

therefore a better position at the public money trough.

New Labour must be shitting themselves at the thought of Sctottish independence.

While bad for both England and Sctotland, its great for the Tories.

The Cameroon must be laughing up his sleeve in private.

Thu, 07/24/2014 - 09:06 | 4997446 Ghordius
Ghordius's picture

don't. get. me. started. on. safe. seats. two words: voting system

otherwise, yes, Tories get a big boost in their voting patterns if Scotland leaves, and British Labour would be the big loser

Thu, 07/24/2014 - 09:37 | 4997565 WTFUD
WTFUD's picture

UKIP will have a huge say in Engerland which can decimate the Tories. Labour is a JOKE anyway.

Thu, 07/24/2014 - 09:33 | 4997549 WTFUD
WTFUD's picture

Maybe! Who wants to rule over the pile of rubble called England?

Thu, 07/24/2014 - 11:05 | 4998228 LostandFound
LostandFound's picture

Yes indeed Cameron will be loving it when he has no domestic reserves of energy after 3 years because Scotland went independant (5 years of domestic energy if they didnt go independant) and he then becomes a slave to the Russians gas that he is currently calling for sanctions against. I would like to see him handle the next term with his bullshit speeches.

i dont know who is the biggest ball bag, Camerons inability to understand the long term consequences of his actions or Brown for selling the nations gold at dirt cheap prices...what a bunch of douches  

i will settle for convicted war crimes on Blair


Thu, 07/24/2014 - 10:37 | 4997986 tony wilson
tony wilson's picture

cam moron says sorry 2 his rabbi



Thu, 07/24/2014 - 08:26 | 4997345 williambanzai7
williambanzai7's picture

Thu, 07/24/2014 - 08:31 | 4997350 NoDebt
NoDebt's picture

That's just wrong.  I like how you almost always make the head too big for the body.  Green arrow.  

Fri, 07/25/2014 - 06:12 | 5002644 onmail
onmail's picture

while 'Bama is waiting for this guy with a lot of rubber


lot of Pot to smoke together 

across the wall.

Thu, 07/24/2014 - 08:28 | 4997346 NoDebt
NoDebt's picture

It appears they're going to have to make do with the oligarchs' money only from oil-rich middle eastern countries now.

Thu, 07/24/2014 - 08:29 | 4997349 ThisIsBob
ThisIsBob's picture

Cameron is an ass.  But I must confess it is hard to feel much empathy for the Russian 1 percenters.

Thu, 07/24/2014 - 08:37 | 4997362 NoDebt
NoDebt's picture

Different situation, but they learned their lesson in Cyprus.  Barely got their money out in time on that one.  They're not waiting around to see what heppens this time.

Thu, 07/24/2014 - 09:05 | 4997442 ThisIsBob
ThisIsBob's picture

... and its all going into the SnP.

Thu, 07/24/2014 - 09:51 | 4997648 Miles Ahead
Miles Ahead's picture

  But I must confess it is hard to feel much empathy for the Russian 1 percenters.

Me too.   Mostly because I'm not a 1%er also...

Thu, 07/24/2014 - 08:33 | 4997356 yrbmegr
yrbmegr's picture

Is this even a thing?

Thu, 07/24/2014 - 08:38 | 4997363 buzzsaw99
buzzsaw99's picture

they would be have to be retarded if they didn't

Thu, 07/24/2014 - 08:40 | 4997365 barre-de-rire
barre-de-rire's picture

cameron is a poodle sat next to the washington's chairs awaiting his sugar chunk.


"vote for me in 2k15 then i'll promise referendum to get out in 2k17 "

 yowling for junker then french boats then.... FUCK THAT piece of dog crap.

go hang yourself doin' kitesurf...


Thu, 07/24/2014 - 08:40 | 4997369 huggy_in_london
huggy_in_london's picture

Good... with a bit of luck the garrish russians themselves might leave.  As dubaibanker says... theres plenty of chinese waiting to buy their properties.

Thu, 07/24/2014 - 08:42 | 4997375 observer007
observer007's picture

Must SEE:

MH17 - VIDEO: CNN Interview with RT Anchor Explodes: Chris Cuomo vs Peter Lavelle


Thu, 07/24/2014 - 09:11 | 4997465 chubbar
chubbar's picture

nice video. The reporters for msm can't stand it when someone comes on that doesn't support the narrative they've been handed by their editors (whom get their marching orders during the morning AIPAC briefing).

Thu, 07/24/2014 - 09:21 | 4997491 Oracle of Kypseli
Oracle of Kypseli's picture

It's for the children! What an emotional "savoir douche" diversion!

Grow some brass and discuss the facts.

Thu, 07/24/2014 - 10:26 | 4997912 Axie
Axie's picture


Thu, 07/24/2014 - 08:44 | 4997381 falak pema
falak pema's picture

the race for megapole uber property will hotten up. What we don't know is which megapoles will benefit from this Oilgarchy money parked in off shore havens.

Take your pick...

Thu, 07/24/2014 - 08:55 | 4997398 Omen IV
Omen IV's picture


Glen Greenwald site:

The Obama administration has quietly approved a substantial expansion of the terrorist watchlist system, authorizing a secret process that requires neither “concrete facts” nor “irrefutable evidence” to designate an American or foreigner as a terrorist, according to a key government document obtained by The Intercept.

The “March 2013 Watchlisting Guidance,” a 166-page document issued last year by the National Counterterrorism Center, spells out the government’s secret rules for putting individuals on its main terrorist database, as well as the no fly list and the selectee list, which triggers enhanced screening at airports and border crossings. The new guidelines allow individuals to be designated as representatives of terror organizations without any evidence they are actually connected to such organizations, and it gives a single White House official the unilateral authority to place “entire categories” of people the government is tracking onto the no fly and selectee lists. It broadens the authority of government officials to “nominate” people to the watchlists based on what is vaguely described as “fragmentary information.” It also allows for dead people to be watchlisted.

Thu, 07/24/2014 - 09:37 | 4997567 WillyGroper
WillyGroper's picture

They hate us for our freedoms.

Thu, 07/24/2014 - 10:12 | 4997802 Kirk2NCC1701
Kirk2NCC1701's picture

No, they hate our free dumbs.

Thu, 07/24/2014 - 10:14 | 4997812 DanDaley
DanDaley's picture

It also allows for dead people to be watchlisted.


Hey, all the dead vote Democrat, so why would they be watching them?  Or is it to make sure that they're not lying down on the job, so to speak?

Thu, 07/24/2014 - 08:58 | 4997410 orangegeek
orangegeek's picture

Yep - Russians are leaving London to return to the safety of their communist motherland.


BTW, what's a gulag??

Thu, 07/24/2014 - 09:10 | 4997461 wonderatitall
wonderatitall's picture

a democrat run city

Thu, 07/24/2014 - 10:20 | 4997871 Freddie
Freddie's picture

They can go to Switzerland or more commie (USSA) Miami Beach.  US banks will accept there money.

Thu, 07/24/2014 - 09:05 | 4997441 Martian Tourist
Martian Tourist's picture

Really so they've sold their houses in a week?

Thu, 07/24/2014 - 09:10 | 4997459 wonderatitall
wonderatitall's picture

when will the world tire of this? punish obamas cronies like the ballarina mayor of chicago or as it is known , murder inc

Thu, 07/24/2014 - 09:20 | 4997493 Urban Redneck
Urban Redneck's picture

All those houses are owned by holding companies, the shares of which can actually change hands faster than Davy-the-Teletubby-PM can waddle down Whitehall to add names to sanctions lists.

Thu, 07/24/2014 - 11:05 | 4998240 effendi
effendi's picture

You don't have to sell the house. Just transfer the title to a shelf company based in a tax haven. Dummy companies, straw buyers and Russian doll ownership structures are all good for hiding who the real owner is.

Thu, 07/24/2014 - 09:07 | 4997447 ShrNfr
ShrNfr's picture

Meanwhile the Ukrainian government coalition bas collapsed. http://www.bloomberg.com/news/2014-07-24/ukraine-coalition-government-co...

Thu, 07/24/2014 - 09:13 | 4997471 ThisIsBob
ThisIsBob's picture

Now, Val, now.

Thu, 07/24/2014 - 09:17 | 4997482 tonyw
tonyw's picture

Well a couple of days ago they were fighting, probably all fighting for democracy?

These are the guys the west is supporting and ocerthrew the previous government for - wtf??



Thu, 07/24/2014 - 09:39 | 4997470 Colonel Klink
Colonel Klink's picture

It's almost as if Britain is playing a one man game of roshambo.


Thu, 07/24/2014 - 09:21 | 4997499 JohninMK
JohninMK's picture

Oh dear, looks like Turkey, a very important NATO member, 'boomeranged' 3 days ago


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