Eastwood: Tougher sanctions required against Russian oligarchs

colum eastwood Boris Johnson Russia

SDLP Leader Colum Eastwood MP has said that the sanctions announced by British Prime Minister Boris Johnson on five banks and three named individuals in response to Russian aggression in Ukraine fall far short of the action required to send a clear message to Moscow.

The Foyle MP said that the British Government must call time on Oligarchs using London as a laundromat for Russian money, including those who have made staggering donations to political parties.

Colum Eastwood MP said:

“The only way to stand up to Putin’s aggressive expansionist agenda in Ukraine is to meet it with robust sanctions that target the individuals and corporations that will hurt Moscow most. The German Chancellor’s announcement of a suspension of the Nord Stream 2 pipeline project is an important example of the scale of the response needed.

“By comparison, the British Government’s announcement of sanctions against five banks and three individuals is pathetic. It is no secret that London has been used as a laundromat for dodgy Russian money for decades. The British Government needs to call time on that practice and take more serious action, at the level that the German government has indicated. 

“There should be no tool left unused in the efforts to secure a peaceful resolution to the deteriorating situation in East Ukraine. That will mean difficult decisions for Boris Johnson, particularly where individuals or their proxies have made significant donations to the Conservative party. Narrow political interests cannot be allowed to override the need for serious action to resolve this situation quickly.”

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