8 Mar 2022
Britain is failing to seize the assets of Putin’s oligarchs, to the incredulity of its allies in Europe and the US. What they need to understand is that this failure is not the fruit of a political decision, but of a decades-long policy to accept money without asking where it came from. Britain literally lacks the mechanisms to do what politicians suddenly want to do. If we want this to change, we will need to build the state capacity – and the political will – from the ground up.