Isabel dos Santos Slams UK’s “Unfair” Sanctions Over Alleged Corruption

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Tejaswini Deshmukh
Tejaswini Deshmukh
Intrigued by the intersection of finance and technology, I delve into the latest RegTech advancements. With a keen eye for unraveling the complexities of compliance, I dissect current financial news and frauds.

Isabel dos Santos, once known as Africa’s richest woman, has strongly criticized the United Kingdom’s decision to impose sanctions on her. The UK government has accused her of stealing large amounts of money from her home country, Angola. Dos Santos, the daughter of Angola’s former president, says she was unfairly targeted without proper evidence or a fair trial.

The Sanctions and Their Allegations

In December 2023, the UK government imposed sanctions on Isabel dos Santos, describing her as a “notorious kleptocrat,” which means someone who steals large sums of money from the public. The UK government claims she misused her positions in state-run companies to steal about £350 million ($442 million). The government’s statement says that this money was taken away from the people of Angola, preventing the country from developing as it should.

The UK sanctions included freezing her assets, meaning her money and property cannot be used, and banning her from traveling to the UK. This move was part of the UK’s larger effort to stop the flow of “dirty money” – money obtained through corruption or illegal activities – into the country.

Dos Santos has denied all accusations. Speaking to BBC’s Africa Daily podcast, she expressed surprise at the sanctions, pointing out that she had never been found guilty of any crime by a court. According to her, the sanctions are politically motivated and linked to the government of Angola trying to tarnish her reputation. She also argued that she was never given a chance to defend herself or explain the situation, as there was no official investigation or due process.

Dos Santos’ Background and Rise to Power

Isabel dos Santos has had a successful career in business. She built a powerful business empire in Angola, starting with a small company that delivered beer to shops and restaurants. Over the years, she expanded into different sectors, including telecommunications, banking, and oil. She eventually became one of Africa’s richest women and one of the youngest billionaires on the continent.

Isabel dos Santos and Ukrainian Oligarch Sanctioned in UK’s Stance on Corruption

In 2016, she was appointed head of Sonangol, Angola’s state-run oil company. Her appointment was controversial, with many questioning whether someone with her background in business should run such an important company. However, the country’s Supreme Court upheld her position. Dos Santos believed her business experience could help turn Sonangol around, especially since it was struggling at the time.

Despite her success in business, her appointment to lead Sonangol led to tensions with some people in Angola’s government. When her father, President José Eduardo dos Santos, stepped down in 2017, Isabel dos Santos was removed from her position at Sonangol by his successor, President João Lourenço. Two years later, her assets were frozen, and the UK sanctions followed.

The Legal Battle and Personal Losses

Dos Santos claims that the legal actions against her are unfair and politically driven. She said that she has never faced criminal charges in Angola and that the case against her is still unresolved, even though her assets have been frozen for years. She also accused the government of using fake documents to justify their actions. For example, she says one of the documents used to freeze her assets included a passport with a forged signature of Bruce Lee, the famous martial artist.

As part of the sanctions, Dos Santos was also removed from Forbes’ list of billionaires in 2021. This happened because the asset freeze means she can no longer receive dividends from her companies or access financial contributions. Over the years, she has also experienced personal hardships, including the death of her husband in a diving accident and the passing of her father in 2022. She did not return to Angola for her father’s funeral because of the risk of arrest, as Interpol has issued a Red Notice, which means she could be detained if she were to return to Angola.

Despite these challenges, Isabel dos Santos is determined to fight the allegations against her and clear her name. She insists that her story is more complicated than the public may think and wants the truth to come out.

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