Roman Abramovich visa row just the tip of the iceberg as UK cracks down on 700 wealthy Russians feared to be flooding the country with ‘corrupt assets’
HUNDREDS of Russian oligarchs living in Britain are expected to be caught up in the crackdown on visas that forced Chelsea FC owner Roman Abramovich to miss his team's FA Cup win.
Up to 700 Russians living in the UK will face scrutiny after former Home Secretary Amber Rudd vowed to review all investor visas given to wealthy Russians between 2008 and 2015.
She made the announcement in the wake of the Salisbury attack on Sergei Skripal and his daughter Yulia, in a bid to ease fears of dirty Russian money flowing into Britain.
There is no suggestion Abramovich is involved in any wrongdoing. But news of his visa delay means he is the first known high-profile victim of the crackdown.
Ben Wallace, the security minister, told The Times that background checks for investor visas were undertaken in 2014 and 2015.
He added: "This included introducing new powers to refuse applications where there are reasonable grounds to believe funds have been obtained unlawfully.
What we know so far:
- Chelsea FC owner Roman Abramovich's visa renewal application has been delayed due to a crackdown on Russian oligarchs in Britain
- Authorities are reviewing all "investor" visas issued to Russians between 2008 and 2015 amid fears "dirty money" is entering the UK
- There is no suggestion Abramovich is responsible for wrongdoing but is the first high-profile oligarch caught up in new vetting process
- Up to 700 other wealthy Russians who live in Britain on identical visas issued during this time are set to reassessed
- A Parliamentary report warned there is "no excuse" for Britain to turn a blind eye to dirty Russian money
- The Kremlin responded by labelling this report "Russophobic", adding it sends a bad message to international investors
- It also labelled the delayed visa an "unfriendly and unscrupulous action" that Russian businesses in the UK were regularly subjected to
"As the Prime Minister and former Home Secretary made clear, we are taking another look at how the route operates and are undertaking further checks on investors who came to the UK through this route before the reforms were introduced."
It comes just hours after a Parliamentary report warned there was "no excuse" for Britain to turn a blind eye to dirty Russian money.
It stated: "There is no excuse for the UK to turn a blind eye as President Putin’s kleptocrats and human rights abusers use money laundered through London to corrupt our friends, weaken our alliances, and erode faith in our institutions."
Vladimir Putin's spokesman Dmitry Peskov on Monday said that the report sends a chilling message to international investors.
He warned: "We are witnessing an unprecedented Russophobic mania in Britain which has various manifestations including this one.
"What's more, I have no doubt that investors from other countries will not leave such actions unnoticed because after such steps by Britain, investors from any country could face a situation when their investments will be labelled 'dirty money'."
Mr Abramovich is seen as a close ally of Vladimir Putin given the vast business empire he has been able to develop over the past 20 years.
But sources yesterday told The Sun Mr Abramovich's investor visa ran out more than three weeks ago when he was abroad and he has been unable to get back into Britain ever since.
Russians have typically applied for a Tier 1 investor visa that is awarded to those investing £2 million or more.
But this has been heavily criticised, with accusations it allows the rich to buy British citizenship, or are receiving it on the back of cash made in shady business activities abroad.
Mr Abramovich, 51, is ranked as the 13th richest man in Britain with a cool £9.3billion. He grew his fortune after the collapse of the former Soviet Union in the last 1990s and bought Chelsea in 2003.
The move comes amid plunging relations between the West and Russia as the UK and US lead the way in attempting to combat an increasingly assertive Putin.
The US Government is investigating how Russia hackers and social media trolls influenced its recent election, while the Skripal poisoning led to 153 Russian diplomats doubling as spies being ejected from Western countries.
As expected, his visa delay has stoked tensions with Russia.
Leading newspaper Sovetsky Sport called it "another attack on Russian businessmen and politicians initiated by the British government headed by Theresa May".
Separately one Moscow source said: "This looks like more anti-Russian hostility from Britain.
"But it is odd since nothing significant has changed with Abramovich and his businesses in recent years.
"And he was allowed access to Britain through all the time Mrs May was in charge of the Home Office. So was she wrong then or, more likely, these are new games now from London?"
The Kremlin today also stated the Russian businesses "often encounter unfriendly and unscrupulous actions".
WHAT HAPPENS NEXT?
The 700 wealthy Russians who received their investor visas in the years prior to 2015 will no doubt be concerned about their ability to have them renewed.
Many, however, many have already gone on to successfully receive the so-called "right to remain", an option available to those living in Britain on investor visas after five years.
These businessmen are allowed to remain in the UK indefinitely, provided they spend a certain amount of time in the country.
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However, it's not yet clear what action might be taken for those who might have received the Tier-1 visa and the following Right to Remain with ill-gotten capital.
It could mean that these privileges are cancelled, or upcoming attempts to renew their Tier-1s are declined.
The UK Government does allow these privileges to be revoked if the applicant is later found to have deceived assessors.
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