Joe Powell
Main Page: Joe Powell (Labour - Kensington and Bayswater)Department Debates - View all Joe Powell's debates with the Foreign, Commonwealth & Development Office
(1 day, 22 hours ago)
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Yvette Cooper
I thank the hon. Member for his kind words. I agree with him that there must be no other option for Putin than to cease aggression and that this is ultimately about hope for Ukrainian children.
Joe Powell (Kensington and Bayswater) (Lab)
I strongly welcome the sanctions targeting the $108 billion in oil revenue that the Kremlin received last year and the progress on the $350 billion in frozen Russian sovereign assets. I applaud the Foreign Secretary and the Chancellor for their efforts in building a coalition with the EU and others to move from using the interest payments to using the capital. Does she agree that that recent breakthrough shows that legally this money should be treated as a downpayment on the reparations for the horrific harm that Russia has caused, which we know it will do everything to avoid paying?
Yvette Cooper
My hon. Friend makes an important point. The EU has set out work linking the issues around assets to reparation payments. We welcome that work and we believe that there is a strong basis to go forward. We need to do so in a co-ordinated way and recognise the importance of supporting Ukraine.