Tuesday 4th March 2014

(10 years, 2 months ago)

Commons Chamber
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Lord Hague of Richmond Portrait Mr Hague
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I think they know we do. Those countries are very important members of NATO. I mentioned earlier our strong commitment to NATO, including maintaining the strongest armed forces in Europe all round, but it will be important for other countries across NATO to strengthen their own military budgets and defences over the coming years. I have advocated that for a long time, and I think that would be of additional assurance to them.

Conor Burns Portrait Conor Burns (Bournemouth West) (Con)
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President Putin has shown very clearly that under his leadership Russia will not respect the border and the sovereignty of a friendly neighbour. As a president who prides himself on advancing Russia’s self-interest, should he not be profoundly alarmed by the market reaction to that action? Regardless of what individual nation states or the European Union decide, will not many businesses across the world be looking at this and asking how, if Russia can act so cavalierly on something so big, they can invest in Russia?

Lord Hague of Richmond Portrait Mr Hague
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My hon. Friend makes an important point. I think Russia has underestimated the longer-term consequences of the action it has taken, because there is an important read-across to upholding international law on other issues. The reaction of the world over the long term will tend to diminish the influence of Russia in the world. This will also, of course, shed new light on Russia’s insistence on sovereignty in other international disputes. It will have very far-reaching consequences, and I do not think they have yet been fully appreciated in Moscow.