UK tech companies with Russian links or finance might find themselves in hot water with US big tech.
As Tsar Putin’s Russian troops push into Ukraine US tech firms are doing their best to make sure that they are not seen as having anything to do with it.
Some of it is obvious. Big Tech is under pressure to use its influence over the world’s most popular social networks, apps and phones to take tough action.
Since Russia’s first strike nearly a week ago, Meta, Twitter, Google and other companies have announced a slew of measures such as revoking ads for Russian state media websites, monitoring disinformation and utilising tools to increase the privacy of Ukrainian citizens.
Boris Johnson has repeatedly promised to “open up the Matryoshka doll of Russian-owned companies” which are often set up offshore so the true owners are not identified.
These companies are used to buy vast homes in London’s wealthiest areas, although MPs and campaigners have for years warned that this loophole can be used for money laundering by people linked to the Kremlin.
However, the Oligarchs have not just invested in property. Since January 2021, at least 623 firms have been set up by Russia nationals based in Russia, according to analysis by openDemocracy and Companies House expert, Graham Barrow.
But many Big Tech companies are signalling stronger action and are signalling breaks with companies built around Russian oligarch money. At the moment, this involves pulling out of Russian partnerships. In Apple’s case, it meant pulling its pricey goods from the shops.
However, it is unlikely that US Big Tech is going to want any identification with Russian oligarchs in their supply chain.
