Ukraine

Alistair Burt Excerpts

Monday 28th April 2014 Commons Chamber

[Mr Hague]

Yes, I absolutely agree. Thinking through the long-term consequences has not necessarily happened, as I said to the right hon. Member for Neath (Mr Hain). Part of our approach is to take certain measures that have an impact while making it clear that there are further and more serious measures that we are prepared to take. We are giving the time for that to sink in and for negotiations to take place such as those in Geneva 11 days ago. I hope and believe that we have the calibration right, and I am grateful for the right hon. Gentleman’s support for it.

[Alistair Burt (North East Bedfordshire) (Con)]

May I commend my right hon. Friend’s robust but typically graduated approach, which together with Ukraine’s restraint gives every opportunity for Russia to come back into the situation and be part of the future? If there are to be costs and consequences for Russia’s illegal action, and if they are to mean anything, there will be costs and consequences for the United Kingdom. Is my right hon. Friend confident that, in particular, the City of London is well prepared for that and will give him every co-operation in making sure that the sanctions he imposes are effective and that London will not become a bolthole for the investment of those who are seeking to evade the sanctions placed on them?

[Mr Hague]

My right hon. Friend makes a very good point. If we do have to move to a third tier of more far-reaching sanctions, it is important that they cover various economic trade and financial areas, and the United Kingdom would have to play a very important part in that. It is important that sacrifices that are necessary are shared across the whole of the European Union, but we would certainly play our part, and of course we would seek to construct these measures in a way that had the maximum effect on the Russian economy and the minimum effect on European Union economies.