Firstpost ·
Inside China’s biggest bank’s London operation: Probe reveals Beijing’s links to Russian oligarchs
An investigation based on 4.8 million ICBC records reveals the bank’s London operations involving Russian oligarch-linked companies and projects tied to Beijing’s strategic interests
The London operations of China’s biggest bank were used to provide financing and banking services to companies linked to Russian oligarchs and other high-risk clients, while pursuing objectives aligned with Beijing’s wider geopolitical interests, an investigation by the International Consortium of Investigative Journalists (ICIJ) has found.
According to ICIJ, ICBC’s London operations became an important financing hub for companies linked to sanctioned Russian and Belarusian business owners, politically exposed individuals and governments.