Ukraine

Debate between John McDonnell and Mark Francois

Thursday 18th December 2025 Commons Chamber

[John McDonnell (Hayes and Harlington) (Lab)]

May I return to the issue of the Russian assets? I talked to members of the Ukrainian community last night, and their anxiety is that if a deal is not done quickly—[Interruption.] Sorry, did the right hon. Member for Rayleigh and Wickford (Mr Francois) want to intervene?

[Mr Francois]

indicated dissent.

[John McDonnell]

I talked to members of the Ukrainian community last night, and they were extremely worried about the situation. They are concerned that unless a deal is done quickly, there will be further threats not just to Ukraine but to Poland, because the Russians are amassing on the Belarusian borders. The fear is that if Trump somehow tries to impose a peace deal that eventually becomes temporary, the frozen Russian assets will be used for the next invasion of Ukraine. That is why it is so important to seal the deal now.

With regard to Abramovich, I welcome the measures taken by the Government, but there was a long period in which the City of London was used as the Russian laundromat for tax avoidance. It would be worth while the Government looking again at the Russian tax avoidance that located itself within the UK, to see whether some of those assets could be used to rebuild Ukraine.