Mind the Gap

Russia and London: The ties that bind

David Brancaccio May 19, 2014
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Mind the Gap

Russia and London: The ties that bind

David Brancaccio May 19, 2014
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Banks, brokers, markets — London has it all.

Add to that a sturdy legal system and you can begin to understand why it’s the financial capital of the world. The city is loved by its locals and foreigners seeking a safe — and profitable — haven. 

Jamison Firestone, an American lawyer based in London, has years of experience helping American and European companies do business in Russia. Firestone, who previously lived and worked in Russia, fled the country after his law patner Sergei Magnitsky died in Russian custody when he was arrested on tax evasion charges. Magnitsky’s supporters say he was beaten and killed by Russian authorities for calling attention to corruption, something Russian officials deny.

The whole affair is just one example of why Russians are looking to take their money out of Moscow and park it elsewhere, according to Firestone. Click on the audio player above to hear more.

 

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