Register of Overseas Entities and russian influence in the UK

Motion Text

That this House notes the warnings as detailed in successive reports, including the Foreign Affairs Committee’s report Moscow’s Gold and the Intelligence and Security Committee’s Russia Report, of the interference of Kremlin-linked elites in the UK; expresses its concern at the ease with which individuals with links to the Kremlin have been able to launder money in the UK and in London in particular; notes with concern new research released by Transparency International which covered £1.5 billion of UK property bought with suspicious Russian wealth; welcomes the UK Government’s decision, in principle, to take action on this; expresses its frustration that, six years on from an initial announcement to establish a register of overseas entities and their beneficiaries by bringing forward a register of overseas entities, no such scheme has been introduced; calls on the Government to formally support the Registration of Overseas Entities Bill, the Second Reading of which is due on 18 March 2022 and has cross-party support; further calls on the Government to implement all the recommendations of the Russia Report; and urges the Government to make democracy a national security priority.