Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her policies of EU proposals for a €140 billion reparations loan backed by Russian state-owned assets; and whether she is considering a similar mechanism.

The Chancellor is committed to exploring a reparations loan to enable the value of sanctioned Russian sovereign assets held in the UK to be directed to supporting Ukraine.

The government continues to work in partnership with international partners including the G7 and European Union to achieve this.

To date, the UK has provided £21.8bn in support for Ukraine. This includes the commitment to the provide £2.26bn as part of the $50bn Extraordinary Revenue Acceleration Scheme for Ukraine, which utilised the extraordinary profits generated from immobilised Russian Sovereign Assets held in the EU.