Ukraine: Frozen Russian Assets

Lord Brooke of Alverthorpe Excerpts

Wednesday 26th February 2025 Lords Chamber

[Baroness Chapman of Darlington (Lab)]

In a sense, that is already what is happening because the interest on the assets is being used to repay the loan that has been made. We are contributing around £2.6 billion to that, alongside partners in the EU, United States, Canada and Japan. That is the right thing to do, and I know his party supports it. I take the opportunity again, as we did last night, to thank the Opposition for their unwavering support for the Government in our approach to Ukraine, just as we supported his Government since the beginning of this conflict.

[Lord Brooke of Alverthorpe (Lab)]

My Lords, many of the frozen assets are properties, and many of those properties are empty. I look across the Thames and see a great building where Abramovich had four floors. Will the Government explore the possibility of using those empty buildings, in particular for Ukrainians and immigration?

[Baroness Chapman of Darlington (Lab)]

That is an interesting idea; it is the first time I have heard that suggestion. I will take it back and ask that it be explored by officials. It is important, though, that whatever we do is legally sound and is done collaboratively with our partners and allies. Whatever we do, we have to be acting within the law, because part of our argument against what Russia has done is that it was a breach of international law. We take our obligations very seriously, and we want to make sure that whatever we do, alongside our partners and allies, is legally sound.