UK is considering using the properties of Russian oligarchs sanctioned to house refugees and also use them for other humanitarian purposes. This has been assured by the Minister of Housing of the British Government, Michael Gove: “I want to explore the option that would allow us to use the homes and properties of sanctioned individuals during the time they are applied for to humanitarian purposes“, He assured in an interview on the BBC.
“It is a very high legal threshold and we are not talking about permanent legal confiscation. What we are saying is: you are sanctioned, you support Putin, this house is here, you cannot use it or benefit from it… And if we can use it to help others, let’s do it,” he said on the public broadcaster.
On the other hand, the British Chancellor of the Exchequer, Rishi Sunakhas urged British companies this Sunday to stop investing in Russia and has asked them to think “very carefully” about any initiative that could support the Vladimir Putin regime.
In a statement, Sunak has praised companies that have already announced their intention to divest some or all of their assets in that country, including Shell, BP, Aviva, M&G and Vanguardand is committed to supporting others who want to do the same.
“I urge companies to think very carefully about their investments in Russia and how they may be helping the Putin regime,” said the conservative minister, who stressed that he sees “no reason to make new investments in Russia.” “We must collectively advance our mission to inflict maximum economic damage” on Russia, he says in the note.
The so-called Chancellor of the Exchequer met this week with asset managers and owners to discuss UK investment in Russia and “there was consensus on the need to economically isolate Putin” over the invasion of Ukraine, the statement said. The Government recognizes that, for some companies, liquidating their positions “it will be a long process”, given the market conditions and the possible difficulty in selling assets due to the global sanctions imposed on the Russian economy. Sunak assures in the note that the Executive will do “everything possible to back and support companies that wish to divest.”
Source: Lasexta
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
