Stop the Untouchables. Justice for Sergei Magnitsky.

Russia’s Silicon Valley woos British investors

FT Tech Hub

A delegation from Russia’s proposed ‘Silicon Valley’ development, Skolkovo, came to the UK this week in an effort to persuade UK businesses to invest in the high-tech hub being built on the outskirts of Moscow.

They faced awkward questions, however, about the political landscape that companies might face if they transferred operations to Russia. Denis MacShane, Labour MP for Rotherham, wrote to Lord Green, the trade minister, criticising the UK’s Department of Trade and Industry for hosting the conference, and pointing to the difficulties that many UK companies had faced in Russia.

“I believe the Government should add…an official health and safety warning so British businesses seeking to be involved in Russia do so with their eyes open to the risks they run,” Mr MacShane wrote.
He cited the case of Hermitage Capital, a hedge fund which was forced to leave Russia, and whose lawyer, Sergei Magnitsky, died in jail after uncovering an alleged $230m corruption scheme by high-level officials.