Sanctions

Debate between Lord Beamish and Baroness Hodge of Barking

Tuesday 1st March 2022 Commons Chamber

[Dame Margaret Hodge]

That is indeed the case. It has been suggested that we could use parliamentary privilege to sanction those individuals through the House, or there is my suggestion that we use the powers under the unexplained wealth orders whereby the assets are removed and it is then up to the individual to justify the legitimacy of their access to those assets.

[Mr Kevan Jones (North Durham) (Lab)]

Does my right hon. Friend agree that, in many cases, it is not as though these assets are very mobile? They are expensive houses and apartments and other fixed assets. They are easily identifiable and could be sanctioned clearly, as Italy, France and others have done.

[Dame Margaret Hodge]

My right hon. Friend is absolutely right. That is why the Government should readily undertake that action, and I would add to that list that places in English public schools can be identified and halted very quickly.

I have been handed a list today of 105 oligarchs. I think that these names are not on the list that the hon. Member for Oxford West and Abingdon mentioned. These are wealthy businesspeople who are involved in companies of strategic importance to the Russian economy, in such things as energy, metals, chemicals, pharmaceuticals and construction. The list is of men—they are all men, I think—who have made a lot of money by robbing assets from the Russian people. That is where the money has come from and they have made their money only because they are close to the Kremlin, and they sustain their wealth only because they remain close to the Kremlin.

You will be delighted to hear that I will not read out the whole list, Mr Deputy Speaker, because I know that you think I go on a bit too long—