UK action against Russian oligarchs bears consequences for economy

THE British government's threats and actions against Russian oligarchs could bring in their wake the Law of Unintended Consequences.

The aim is to clamp down on oligarchs who are close to President Vladimir Putin's regime, on the allegation that some of these individuals are hiding and investing the Russian leader's wealth. It is a retaliatory move. Despite persistent denials by Moscow, the Russian government is accused of attempting to murder former Russian agent Sergei Skripal and his daughter in Salisbury, England.

The UK move dovetails US sanctions against several super-rich Russian individuals who are also accused of corruption and helping Mr Putin. The view is that if life is made difficult for the oligarchs, Mr Putin and his coterie will be hurt.