UK Targets Billionaires and Oligarchs in Major A...

UK Targets Billionaires and Oligarchs in Major Anti-Corruption Sanctions

Zim Now Writer

The UK government has frozen the assets of Angolan billionaire Isabel dos Santos, Ukrainian oligarch Dmytro Firtash, and Latvian businessman Aivars Lembergs in a new push to combat corruption and curb "dirty money."

The move, announced by Foreign Secretary David Lammy, marks the first step in strengthening Britain's sanctions regime under the Labour government elected in July.

“These unscrupulous individuals selfishly deprive their fellow citizens of much-needed funding for education, healthcare, and infrastructure—for their own enrichment,” Lammy said in a statement.

Isabel dos Santos, known as Africa’s first female billionaire has been accused of embezzling over £350 million through her roles at Angola’s state oil company Sonangol and telecom firm Unitel. A September court ruling upheld the freeze on £580 million of her UK assets, following allegations of financial misconduct. Dos Santos denies wrongdoing, describing the sanctions as "incorrect and unjustified," and vows to appeal.

Dmytro Firtash is also wanted in Ukraine and the U.S. for allegedly embezzling US$500 million related to Ukraine’s gas transit system, Firtash is accused of hiding tens of millions in UK properties. His wife, Lada Firtash, was also sanctioned for holding assets on his behalf, including the former Brompton Road underground station site in London.

Aivars Lembergs; a controversial Latvian politician sanctioned by the U.S. in 2019, Lembergs has been accused of laundering money and abusing his political power. His daughter, Liga Lemberga, was also included in the sanctions list.

The British government emphasised the importance of addressing corruption globally, stating that dos Santos, Firtash, and Lembergs have funneled illicit funds out of their home countries, depriving citizens of vital public resources.

Lammy affirmed his commitment to tackling kleptocracy, saying, “These sanctions are just the beginning of a broader effort to stop dirty money from empowering corrupt elites.”

This crackdown signals Britain’s intent to strengthen its financial systems against misuse and hold powerful figures accountable for corrupt practices. Further sanctions are expected as part of the ongoing campaign.