Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Russia freezes bank accounts linked to opposition politician Navalny

Published 08/08/2019, 13:40
Updated 08/08/2019, 14:01
Russia freezes bank accounts linked to opposition politician Navalny

By Andrew Osborn

MOSCOW (Reuters) - Russian authorities on Thursday froze a slew of bank accounts linked to jailed opposition politician Alexei Navalny as part of a money laundering investigation that his allies say is a trumped-up attempt to cripple his political movement.

The move comes ahead of a series of planned nationwide demonstrations on Saturday being organised by Navalny's allies to protest against the exclusion of opposition candidates from a Moscow election next month.

Similar protests in the Russian capital in recent weeks have led to mass arrests and prompted a wider crackdown on anti-Kremlin activists who have had their homes searched and been handed short jail terms or listed as suspects in a more serious investigation into what the authorities call mass unrest.

Russian investigators said in a statement on Thursday that they had frozen the bank accounts of Navalny's anti-corruption foundation, those of another organisation, and those of more than 100 linked individuals and legal entities.

Kira Yarmysh, Navalny's spokeswoman, said on Twitter that investigators had also frozen the bank accounts of Navalny's campaign headquarters across the country.

Masked police officers searched the Moscow offices of Navalny's anti-corruption foundation as well as the homes of several activists on Thursday taking away computers and documents.

Investigators said they had also summoned some of the foundation's employees for questioning.

The crackdown came after investigators opened a criminal investigation on Saturday into the alleged laundering of 1 billion roubles (12.6 million pounds) by Navalny's foundation.

Navalny and his allies say the foundation, which has published a slew of embarrassing investigations into government officials, is transparently financed from public donations.

Navalny is currently in jail for violating Russia's tough protest laws after calling for people to demonstrate in central Moscow over the exclusion of opposition candidates from a local election next month.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.