I entirely agree.
From the beginning, this House has stood united in support of Ukraine’s sovereignty and against Putin’s aggression, so I welcome the news of additional sanctions. We support tough measures against Putin’s cronies and cutting Russia out of the economic system, but let us be clear that we were promised sanctions immediately after the invasion of Ukraine. Since then the Government have been playing catch-up.
The EU sanctioned members of the Russian state Duma on 23 February. Why did the UK not do the same until 11 March? I wrote to the Foreign Secretary on 27 February calling for a ban on the export of luxury goods to Russia. Why did the Government only do that today? The United States sanctioned Oleg Deripaska four years ago. Why did the British Government catch up only five days ago?
The Government’s delayed sanctions gave Putin and his cronies a get-out-of-London-free card. Roman Abramovich, who was sanctioned at the same time as Deripaska, is just one example. Because of Ministers’ tardiness, Abramovich was able to fly his jet out of Stansted and sail one of his superyachts to Montenegro, with his second boat not far behind. As the right hon. Member for Haltemprice and Howden (Mr Davis) observed, that is £1 billion of assets that have left the United Kingdom.
For too many days during this war, the Government have been behind our EU and US allies on individual sanctions. They have been behind the Opposition on sanctioning banks in Belarus as well as Russia. They have been behind us on sanctioning the energy sector and on closing the loopholes that let Putin’s criminal cronies off the hook.
I accept the political point that the right hon. Gentleman is trying to make, but I am sure he recognises that we were first out of the traps on banking sanctions and that we led on trying to remove Russia from SWIFT. It is simply not fair to paint a picture that we have been following the EU and the US. There has been an international response in different areas, and it has come at different speeds.