Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with his European Union counterparts on (a) seeking to increase the level of profits from frozen Russian assets and (b) sharing the legal risks of doing taking such an approach.

The Chancellor is actively engaging with our EU partners, including recently at ECOFIN, and through regular discussions with G7 finance ministers to explore all viable legal avenues to make use of Russia’s sovereign assets for the benefit of Ukraine, in line with international law.

The Government remains committed to ensuring Russia is held accountable for the damage it has caused, and continues to cause, in Ukraine. Alongside our G7 partners, the UK has pledged to maintain the sanctions on Russia’s sovereign assets within our jurisdictions until Russia compensates for this harm.