UK’s tax havens are overtly behind 29% of global tax abuse. As far as 2018, these jurisdictions hold £34 billions of money linked to Russian oligarchs. After the global response to the invasion of Ukraine, a decisive blow on Russian oligarchs can only happen if the UK will shut down these tax havens once and for all.

While the UK’s Prime Minister expressed his commitment to the sanctions imposed on Russia after the invasion of Ukraine, he did not explicitly address the real ‘gold chest’ of Putin's associates: the UK's tax heavens. Russian dirty funds are indeed not only stashed in London, but in places like Cayman Islands, Bermuda, British Virgin Islands, Turks and Caicos Islands, Anguilla, Monserrat and closer to Europe, in the City of London, Jersey, Guernsey, Isle of Man.

These territories are often presented as independent from London, but it is not true. As expressed clearly by Nicholas Shaxson of ‘Tax Justice Network’ these territories are portrayed in the official data of international lending and deposits "…as entirely separate, independent territories. They are not: they are part of the British state."

In fact, a legislation is currently being rushed through the UK’s parliament to target the Russian billions hidden in the tax havens, but "Campaigners and MPs say ‘significant loopholes’ remain in the government’s Economic Crime Bill, set to become law within days, as the government tries to root out illicit wealth linked to Vladimir Putin’s regime."

We think that this is ‘too little, too late’.

We ask the UK's government to close all these financial abominations spread around the earth, which are not only stealing billions of global wealth, but are also the secret treasure of the Russian oligarchs associated with Putin's regime. The UK always had the power to close them, but the recent events in Ukraine are calling for a decisive crackdown.

By signing this petition, we aim to achieve two things.

1) Spread awareness that the Russian oligarchs have more assets within the UK than often reported to the general public.

2) Put pressure on the UK's government to tackle the problem and shut down its tax havens once for all.

If the British government genuinely wants to commit to a global package of sanctions against the Russian regime, we believe that a swift crackdown on the tax havens is not only a pragmatic, but also a moral imperative.

Recent articles on the subject:

• Further data on the global tax abuse dated 2021
• Government prepares to target billions buried by Putin’s oligarchs in British tax havens
• How much money do oligarchs have in British tax havens and where exactly is it?

(photo taken from: Süddeutsche Zeitung / Panama Papers)