Russia: Trade

Debate between Lord Grimstone of Boscobel and Baroness Rawlings

Tuesday 28th July 2020 Lords Chamber

[Lord Grimstone of Boscobel]

My Lords, let me make it quite clear that money obtained through criminality or corruption is not welcome in the UK. We have long recognised the corrosive risk of dirty money, including from Russia, being laundered in the UK. We continue to bring the full capabilities of law enforcement to bear against serious criminals, corrupt elites and their assets.

[Baroness Rawlings (Con) [V]]

My Lords, it is encouraging that HMG hold that

“trade and investment can be a lever for stabilising relations”

and

“increasing UK prosperity”.

What trade arrangements and investments are being planned and developed with Russia for after 2020? The Prime Minister said that he did not want to become a Sinophobe; does that mean nor a Russophobe either?

[Lord Grimstone of Boscobel]

My Lords, the Department for International Trade team at our embassy in Moscow is working with a pipeline of over 90 Russian companies that have expressed an interest in the UK. This work is taking place this year and will continue in the following year, notwithstanding external factors.