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.
Baroness Rawlings (Con)
What assessment have HMG earmarked for other refugee movements in the Middle East?
We are working very closely with allies and partners in the Middle East. We have announced very recently some additional funding, particularly for Lebanon, which has been a long-standing host for displaced people, and the same in Jordan and elsewhere. We will continue to play the fullest role in supporting those displaced communities.
I thank the noble Earl. He is right and we are having active conversations with Lloyd’s of London to make sure that shipping is insurable as the strait reopens. At the moment, though, you could have all the insurance you want—if it is not safe, it is not safe. We need to make sure that that is established, but it is important. Even if the strait reopens, if you cannot insure what you are doing, that makes life pretty impossible, so we have to make sure that we have a solution on insurance.