Few sanctioned Russians disclose UK property, despite new transparency law

FILE PHOTO: The entrance to Kensington Palace Gardens, where it is believed that Russian businessman Roman Abramovich owns an apartment, is seen in London, Britain March 3, 2022. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) - Following Moscow’s invasion of Ukraine last year, Britain trumpeted new legislation requiring property-ownership disclosure aimed at cracking down on Russian oligarchs and corrupt elites laundering illicit wealth.

Foreign companies holding UK property have until the end of Tuesday to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. But a Reuters analysis of government data found that the people behind thousands of UK-property owning foreign companies remain veiled in secrecy.