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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.93+0.8%Jan 9 4:00 PM EST

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To: John Hunt who wrote (28674)2/21/1999 6:02:00 PM
From: Alex  Read Replies (3) of 116845
 
2/20/99 - Russian spies infiltrating City of London: report

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LONDON, Feb 21 (AFP) - A former British secret agent claims a Russian spy ring has infiltrated London's financial heartland and is targeting top staff at the Bank of England and City institutions, the Sunday Times reported.

The paper said the ex-officer with Britain's overseas intelligence agency MI6 had revealed how it discovered that Moscow had penetrated the operations of Barclays Bank and the London gold and bullion markets.

He named a precious metals dealer who works on the bullion market as a man MI6 had suspected of being a full-time Russian spy.

The agency also uncovered another spy working in the commodities market, and was informed in 1995 that Russian intelligence had an agent reporting on the activities of Barclays' Moscow office.

The paper said MI6 fears the spy may have influenced the bank's reported loss of 250 million pounds (405 million dollars) in Russia's economic crisis last year.

In London, senior staff at the Bank of England, the European Bank for Reconstruction and Development (EBRD) and other City institutions are being targeted by Moscow, the ex-spy was quoted as saying.

The Sunday Times said MI6 learned of the extent of the economic espionage in the early 1990s when a four-page document it obtained from a source inside the Russian intelligence service named the Bank of England and EBRD as top targets.

The former MI6 agent was a senior intelligence officer with more than 20 years of experience in British and European operations, the paper added.
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