Sanctions

Jim Shannon Excerpts

Wednesday 14th May 2025 Commons Chamber

[The Minister of State, Foreign, Commonwealth and Development Office (Stephen Doughty)]

I beg to move,

That the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (SI, 2025, No. 504), dated 22 April 2025, a copy of which was laid before this House on 23 April, be approved.

This instrument amends the Russia (Sanctions) (EU Exit) Regulations 2019. It was laid before Parliament on 23 April under powers in the Sanctions and Anti-Money Laundering Act 2018, and the measures in the regulations, which subject to the affirmative procedure, entered into force on 24 April. Sanctions are a powerful tool in our armoury. They play an important part in promoting peace and security abroad, upholding international norms and rules, and protecting our citizens at home. Since coming into power, this Government have ramped up action with our partners, and that includes leading the way on targeting Russia’s revenues, bearing down on its military industrial complex, and deterring and disrupting Iran’s support for Russia.

Just last Friday, the Prime Minister announced a major package of sanctions to target the decrepit and dangerous shadow fleet carrying Russian oil. It is the largest package of sanctions against the shadow fleet, with 110 targets. According to some estimates, sanctions have crippled 200 ships, almost half of Putin’s dedicated fleet. The Government’s support for Ukraine remains steadfast. Our total support for Ukraine now stands at £18 billion, including £3 billion a year of military aid and our £2.26 billion contribution to the G7 extraordinary revenue acceleration loans scheme.

[Jim Shannon (Strangford) (DUP)]

First, I commend the Minister on bringing the measure forward. I do not think there is anybody in this House who would not be encouraged by what the Minister and Government are doing in bringing in the sanctions. The one thing that always concerns everybody—the Minister knows this—is the £22.7 billion of frozen Russian assets. We all wish to know whether the Government can pursue those assets with a vengeance and an evangelical zest. That would be a better zest than any other. If we put a squeeze on the frozen Russian assets, we can use them for the benefit of Ukraine, and strengthen everyone who supports Ukraine.

[Stephen Doughty]

I thank the hon. Gentleman again for his steadfast support for Ukraine, and for raising this important issue. As I said, we have already ensured that important resources get to Ukraine. Thanks to the speedy passage of measures through this House, and support from all parts of the House, we made sure that happened, and it is making a tangible difference. Two thirds of the ERA loan scheme funding that I mentioned has been disbursed and is immediately supporting Ukraine in obtaining vital military equipment. He rightly asks about frozen Russian sovereign assets more widely. As the Foreign Secretary said yesterday, we are working apace with international partners to look at all lawful means of ensuring that Russia pays for the horrific damage and destruction that it has done in Ukraine. I can assure the hon. Gentleman on that point. We will of course come back to the House in due course to update Members.