YEREVAN, JULY 23, ARMENPRESS. Allies of Vladimir Putin are understood to be moving assets after British demands to punish the Russian president’s 'cronies' in the wake of the Malaysia Airlines disaster in Ukraine, informs “Armenpress”, referring to The Daily Telegraph.

Russian oligarchs are moving money out of London following threats of tough financial sanctions in the wake of the attack on Flight MH17, Downing Street has said.

The European Union on Tuesday agreed to draw up a list of Russians who will face sanctions following the downing of the Malaysia Airlines plane, which killed 298 people.

David Cameron welcomed the EU agreement but the Prime Minister called on European countries including France and Germany “to do more” and agree the toughest possible economic penalties against Russia as a whole. EU officials will meet on Thursday to discuss imposing “Tier 3 sanctions” that could include blocks on financial services as well as trade and energy exports.

Asked whether oligarchs were already moving assets out of London, the Prime Minister’s official spokesman said: “The measures that have been taken with regard to individuals and entities has got a correlation with some of the financial flows we have seen across Europe including here in London. That’s certainly the case.”