HSBC’s building in Canary Wharf, London. Photograph: Anthony Devlin/PA Archive/Press Association Image
Exclusive: Billions of dollars were moved out of Russia in ‘Global Laundromat’ operation, with anonymously owned UK companies playing major role theguardian.com
Britain’s high street banks processed nearly $740m from a vast money-laundering operation run by Russian criminals with links to the Russian government and the KGB, the Guardian can reveal.
A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country’s natural resources.
As such, you won’t be surprised to learn that the largest energy companies in the world are owned and operated by governments, and they include: Saudi Aramco, Russian Gazprom, China National Petroleum Corp. (CNPC), National Iranian Oil Co., Petroleos de Venezuela, Brazil’s Petrobras and Malaysia’s Petronas. How they’re run varies wildly—as does where their wealth goes.