Russia: Sanctions

Debate between Lord Bridges of Headley and Lord Ahmad of Wimbledon

Thursday 3rd March 2022 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

I am sure that the noble and gallant Lord will appreciate that I will not go into specifics on what steps we are taking next. I assure the noble and gallant Lord, as my right honour friend the Foreign Secretary has said, that all options are very much on the table on how we can further pressure Russia to do the right thing. If it pulls back from Ukraine, talks can begin. All credit goes to the Ukrainians who are engaging in this initiative on the Belarus border. At the same time, Russia is, as I said yesterday, holding a trigger to the head of the Ukrainians and claiming that they believe diplomacy to be the route forward.

[Lord Bridges of Headley (Con)]

My Lords, first, I applaud my noble friend for all he is doing. Given that the aim of the Government is to stop the financing of President Putin’s war machine—and given that he has just said that nothing is off the table—can the Minister confirm that the Government have not ruled out calling for the complete cessation of all European imports of Russian oil and gas, and of all payments for Russian oil and gas under existing long-term contracts? Can the Minister also confirm that the Government have not ruled out banning Gazprombank and Sberbank from SWIFT?