Ukraine: International Conference

Debate between Lord Goldsmith of Richmond Park and Lord Tyrie

Tuesday 7th June 2022 Lords Chamber

[Lord Goldsmith of Richmond Park (Con)]

My Lords, alongside our allies and partners, we are supporting Ukraine to defend itself against Russia. We have committed £1.3 billion so far in military support for Ukraine. As of 25 May, we have sent 6,900 anti-tank missiles, including NLAWs and Javelins; air defence systems, including Starstreak anti-air missiles; 1,360 anti-structures munitions; and 4.5 tonnes of plastic explosives. We sent over 200,000 pieces of non-lethal aid—helmets, body armour and so on—and on 22 April the PM announced that we will send Challenger 2 main battle tanks to Poland to backfill and thus enable Poland to give tanks to Ukraine. As we have made very clear, our support will continue for as long as necessary.

[Lord Tyrie (Non-Afl)]

My Lords, Ukraine’s economy is under severe strain. Does the Minister agree that the leading western economies of the world are well capable of providing the necessary economic support to stabilise the Ukrainian economy? Do the Government have any plans to organise a meeting or a conference to ensure that that support is put in place, so that it can demonstrably be seen by Ukraine’s main adversary that we will continue to support the economy in whatever way is necessary?

[Lord Goldsmith of Richmond Park (Con)]

My Lords, we have given £74 million to support the Ukrainian Government’s day-to-day spending. We have given a £100 million three-year package to reform energy supply and to support their energy independence moves. The Foreign Secretary has reiterated that we stand ready to guarantee up to a billion dollars in government loans. We have instructed the UK export credit agency to retain £3.5 billion of financial support for trade with Ukraine, and on 9 April, the Prime Minister announced an additional half a billion dollars in World Bank guarantees to support Ukraine’s economy. As the noble Lord will know, the UK is absolutely not standing alone here. World leaders are discussing what the final support package will have to look like in order to help Ukraine rebuild and stand up again. We fully expect that Russia should be required to contribute significantly to that cost.