Ukraine: Reparation

Baroness Chakrabarti Excerpts

Monday 23rd March 2026 Lords Chamber

[Baroness Chapman of Darlington (Lab)]

I think that is pretty much impossible to conceive of. I know the noble Lord and my noble friend are aware of the current sanctions regime, under which we can freeze assets but not seize them. However, we need to make sure that, however it is done, Russia will pay the price for its illegal aggression in Ukraine.

[Baroness Chakrabarti (Lab)]

My Lords, I agree with my noble friend the Minister that it will take careful work to construct an appropriate legal structure for the redirection of frozen assets in the future. In the meantime, what is happening to the interest?

[Baroness Chapman of Darlington (Lab)]

That is an interesting point. Any interest must be dealt with fairly and the principle that the aggressor pays must be maintained. On consideration of what is done with the interest, this is being dealt with differently and has been used to support loans to Ukraine. The fundamental point that really matters is that it is Russia that needs to pay for the consequences of what it has chosen to do.