Sanctions

Wendy Morton Excerpts

Wednesday 14th May 2025 Commons Chamber

[Wendy Morton (Aldridge-Brownhills) (Con)]

We on the Opposition Benches support this statutory instrument and all measures that bear down on Putin’s regime and undermine his ability to prosecute the barbaric, illegal invasion of Ukraine. We support the further measures on technology transfers and software, and on diamonds and chemicals, and the other measures to tighten the import and export regimes. Of course, all of those are built on the critical mass of sanctions introduced by the Conservative Government. Working with allies, we imposed the largest and most severe set of sanctions that Russia had ever seen, in order to cripple Putin’s war machine. We sanctioned around 2,000 individuals, companies and groups.

All of us should be in no doubt that the economic pressure that we and our allies have been exerting means that Russia cannot afford to sustain the cost of this illegal invasion. Indeed, Russian interest rates are at levels not seen for decades, and welfare payments are being cut. The international community’s sanctions have deprived Putin of $400 billion since February 2022—money that Russia could otherwise have spent on the war in Ukraine.

On that note, I want to push the Government on four points, because we must strive ceaselessly to constrain Putin’s war machine and never see our actions as an end state. First, we recognise that some measures in today’s SI will deal with specific issues relating to third countries, but can the Minister confirm whether his Department is currently looking into wider secondary sanctions? If so, what is the scope? What kind of diplomatic engagement is he having with countries whose economies are being used to circumnavigate the international sanctions response, and what measures is he considering on the big-ticket issues that are well understood in this House?

Secondly, when is the Minister’s internal deadline for getting the proceeds from the sale of Chelsea football club out the door, and how exactly does he envisage the money being spent? Can he update us on the Foreign Secretary’s engagement with the trustees, the Government of Portugal and the European Commission on this issue? We need to act with urgency, because we are talking about more than £2 billion. It goes without saying that this money could be a huge boost to the humanitarian effort supporting those affected by the invasion.

Thirdly, can the Minister explain why the £2.26 billion loan to Ukraine, backed by the profits of sanctioned Russian assets, will be paid by the Treasury over three years rather than in one immediate instalment, especially given that it is earmarked for military equipment? Can he confirm, with a simple yes or no, whether work is actively ongoing in the FCDO and the Treasury to find additional legal solutions to allow for the mobilisation of sanctioned assets?

Finally, there has been much commentary in recent weeks about initiatives to secure peace, but we urge the Government—in the strongest terms—to leverage Britain’s influence in every way that they can to help ensure that peace is secured on Ukraine’s terms. As has been the case from the outset, it remains ultimately for Ukraine, as a proud and sovereign nation that has sacrificed so much to defend itself and the fundamental freedoms that we all hold dear, to decide its own future.

Of course, we want this terrible war to be brought to an end. Like President Zelensky, we hope for a lasting, reliable peace, but the Euro-Atlantic community must continue to be robust in the face of Putin’s aggression. The lesson of the past 20 years is clear: he only comes back for more. Today we have the added threat that the axis of authoritarian states is collaborating to wreak destruction on our continent, with Iran providing weapons and North Korea providing troops to support Putin. We even understand that a number of Chinese civilians are supporting Russia’s campaign. The stakes could not be higher, but there remains nothing inevitable about a victory for Russia, which thought it could capture Kyiv and subjugate Ukraine within days. Three years on, the cost to Russia has been enormous and unsustainable.

We acknowledge that the UK Government are now proactively seeking to end the war through negotiations and that this takes UK policy on Ukraine in a new direction, but we must also remember that we and our NATO allies have a collective GDP that is 20 times greater than Russia’s, and a collective defence inventory that is many times larger than Putin’s. The Ukrainians are fighting valiantly, and we must ensure that they have the capabilities they need in their hands and the diplomatic support they require. The Government need to bring allies with us in supporting Ukraine to achieve a just and fair peace on its terms.

[Madam Deputy Speaker (Caroline Nokes)]

I call the Liberal Democrat spokesperson.