Friday 25th February 2022

(2 years, 2 months ago)

Lords Chamber
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Lord Tugendhat Portrait Lord Tugendhat (Con)
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My Lords, I begin by congratulating the noble Lord, Lord Sedwill, on his notable maiden speech. His eloquence matches the authority that he brings to the subject. I also share the views initially expressed by the noble Lord, Lord Robertson, but by others as well, that what frightens Putin is the example that democracy on his borders sets to the people of Russia. The combination of fear of democracy on his borders on the one hand and the desire to recreate the empire of Stalin and the tsars on the other makes for a very dangerous combination. No wonder the Baltic states are worried, and others too. I refer particularly to the Baltic states because they are members of NATO, with all that that implies.

I strongly agree with the point of the noble Lord, Lord Sedwill, that sanctions need to be more than anticipated, greater than was feared. I agree with my noble friend Lord Howell that what has been done so far is inadequate and more needs to be done. I agree with the noble Lord, Lord Ricketts, that when the sanctions regime is applied in its full force, it must be sustained and not weakened. When it comes to the application of sanctions, a particular responsibility rests on the shoulders of this country and Germany: in the case of Germany, because of its dependence on energy from and trade with Russia, and on this country because of the warm welcome we have extended to the Russian oligarchs and to Russian money. It is very important, if our voice is to carry credibility in the counsels of the West, in decisions about what should be done, that we should be seen to be applying the full rigour of sanctions to the people who have banked their money, spent their money, bought property and sought to exercise political influence in London. It is very important that nobody should feel that we are dragging our heels in that respect.

The noble Lord, Lord McDonald, made a very important point when he said that the country must understand the price that we will have to pay for sanctions. This is not just a matter of the banks, financial institutions, estate agents, public schools and all the other beneficiaries of Russian money, the management of the economy will become much more difficult. Energy supplies will become much more expensive. Inflation will become more difficult to control. Supply chains will become more disrupted. It is very important that the Prime Minister should be absolutely clear and frank with the British people about the price that we will have to pay if these sanctions are to be successful. It is all very well to talk about the wickedness of Putin and how we will stand up to him, but the British people need to understand that, if we are to stand up to him, a price will have to be paid. Unless this point is made clear to the British people, Putin will not take seriously our resolve.

I have just two more points to make. First, we have already supplied Ukraine with weapons, and the anti-tank weapons are very good ones; we must be ready to supply more as and when they are required and to do whatever we can to sustain the Ukrainians in whatever form of warfare they are able to carry out. It is also very important that we should be willing to provide humanitarian assistance on a massive scale, both within Ukraine and to those who are fleeing Ukraine. We must do all we can to alleviate suffering there. Finally, in everything we do, we need to make it clear that our quarrel is with Mr Putin and not with the Russian people.