Today, Explained From Russia with cash
Jun 21, 2022
Oliver Bullough, author of *Butler to the World*, discusses the troubling relationship between Russian oligarchs and the UK. He reveals how British banks facilitate the offshore economy, allowing corruption to flourish. The conversation highlights the irony of these oligarchs being embraced by British society even as their assets are seized post-Ukraine invasion. Bullough elaborates on the UK’s lack of regulatory oversight, likening its role to a butler serving the wealthy, and delves into the complex dynamics of power and wealth among these influential figures.
AI Snips
Chapters
Books
Transcript
Episode notes
From Russia to the UK
- Oliver Bullough, initially interested in Russia's transition to democracy, became a journalist there.
- He noticed a hypocritical shift in how Russian oligarchs, viewed negatively in Russia, were lauded as entrepreneurs in the UK.
Butler to the World
- The UK serves as a "butler to the world," providing services to the wealthy, regardless of their morality.
- This metaphor highlights the UK's shift from an imperial power to a facilitator of global finance.
Birth of Offshore
- In 1955, during the Cold War, the Soviet Union moved dollars to a London bank to avoid potential US freezing.
- This accidental discovery created "offshore" banking, a space free from regulations, which transformed global finance.
