London, UK - March 20, 2018 (CGTN - No access Chinese mainland)
1. Staff working in RSL Law firm's office
2. Various of Tatiana Sharposhnikova, managing director and senior solicitor of RSL Law firm, working in office
3. Staff working in RSL Law firm's office
4. Sharposhnikova talking with her colleagues
5. SOUNDBITE (English) Tatiana Sharposhnikova, managing director and senior solicitor, RSL Law firm:
"I’ve lived in this country for 25 years and it’s the first time I’ve heard that word. I’ve never heard that word before. So is the situation worrying? Yes. But should we panic? No."
6. Various of Sharposhnikova during interivew
7. Various of photo of Moscow Kremlin
8. SOUNDBITE (English) Tatiana Sharposhnikova, managing director and senior solicitor, RSL Law firm:
"Economically the Russian-speaking community still contributes a lot to this country. But not only economically, also culturally. And I think this country will be a lot poorer, not just economically, if the Russian community wasn’t here, if the Russian community wasn’t respected."
9. Various of buildings, properties, street signs on Belgrave Square
10. SOUNDBITE (English) Edward Mermelstein, partner, One and Only Holdings:
"The anticipation is that there’s going to be a lot of money moving out of the UK in the short term."
11. Mermelstein writing
12. SOUNDBITE (English) Edward Mermelstein, partner, One and Only Holdings (starting with shot 11)(partially overlaid with shot 13):
"Realistically the expectation is yes it’s going to be much more difficult for someone holding a Russian passport to do any business in the UK. All of our clients have no issues to show where their wealth came from but when politics come into play, it changes the equation because no matter what you show it’s never going to be enough."
++ SHOTS OVERLAYING SOUNDBITE ++
13. Mermelstein working
++ SHOTS OVERLAYING SOUNDBITE ++
14. Various of street scenes
15. Various of office building of BP
16. Various of stadium, offices of Chelsea football club

Moscow, Russia - March 20, 2018 (CGTN - No access Chinese mainland)
17. Mikhail Fishman, independent journalist, walking, talking
18. SOUNDBITE (English) Mikhail Fishman, Independent journalist:
"There are some barriers that the Kremlin does not want to cross and does not want to escalate more than it (has) already escalated."
19. Various of buildings

As the 23 expelled Russian diplomats and their families leave London, the UK is considering taking yet further measures against Russia in the wake of the recent Salisbury poisoning case which has strained relations and raised tensions between the two countries.

The tougher measures may include financial sanctions that would make it harder for Russian companies to do business in the UK, which could lead some of London’s large Russian expat community to think of taking their money elsewhere, and which would have a considerable knock-on effect for British companies and shareholders.

RSL Law describes itself as ‘more than just a law firm’ and helps its Russian clientèle navigate London’s complex property market and immigration rules so they can live and do business in the UK.

But in recent days, its managing director Tatiana Sharposhnikova has heard a new word being thrown around in the media: Russophobia.

"I’ve lived in this country for 25 years and it’s the first time I’ve heard that word. I’ve never heard that word before. So is the situation worrying? Yes. But should we panic? No," said Sharposhnikova.

With UK-Russia relations falling to a low not seen since the cold war, Sharposhnikova says her clients are concerned. Most are on visas that come from investing large sums of money in the British companies, stock and bonds.

"Economically the Russian-speaking community still contributes a lot to this country. But not only economically, also culturally. And I think this country will be a lot poorer, not just economically, if the Russian community wasn’t here, if the Russian community wasn’t respected in this country," she said.

Belgrave Square is home to embassies from around the world and some very rich Russians with well over a billion dollars worth of prime property in central London believed to be Russian-owned. But the British government is considering expanding so-called ‘unexplained wealth rules’ - which would subject Russian investors to greater scrutiny. Tycoons with ties to the Kremlin could even have assets seized.

"The anticipation is that there’s going to be a lot of money moving out of the UK in the short term," said Edward Mermelstein, a lawyer and partner of One and Only Holdings.

Mermelstein helps wealthy investors buy property and private equity in London. He says he’s getting worried calls from clients who might take their business elsewhere.

"Realistically the expectation is yes it’s going to be much more difficult for someone holding a Russian passport to do any business in the UK. All of our clients have no issues to show where their wealth came from but when politics come into play, it changes the equation because no matter what you show it’s never going to be enough," said the lawyer.

More than 46 billion dollars of Russian stock has been sold in London since the mid 1990s, but Russia-UK business ties are often deep and complex. They span many sectors, including energy, with BP owning around 20 percent of Russian state-owned energy giant Rosneft. Premier League football clubs also have heavy Russian influence, with billionaire businessman Roman Ambramovich owning last year's league champions Chelsea, and 30 percent of their London rivals Arsenal owned by another well-connected Russian oligarch, Alisher Usmanov.

Both Russian and British businesses hope the current diplomatic row blows over soon with the days of London being an easy environment for Russians to hold investments at risk of being numbered.

In Russia, many believe the newly re-elected president Vladimir Putin is trying to calm the situation down, including one of the country's top independent journalists.

"There are some barriers that the Kremlin does not want to cross and does not want to escalate more than it (has) already escalated," said journalist Mikhail Fishman.