Russia: Sanctions
Debate between Lord West of Spithead and Lord Cameron of Chipping Norton(6 months, 1 week ago)
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Lord West of Spithead
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs what assessment he has made of the effectiveness of UK sanctions on Russia, and in particular on the number of tankers and other ships trading in Russian oil despite those sanctions.
The Secretary of State for Foreign, Commonwealth and Development Affairs (Lord Cameron of Chipping Norton) (Con)
My Lords, sanctions by the United Kingdom and G7 partners have cost Russia an estimated $400 billion, equivalent to four years of war funding, and contributed to a 30% fall in oil tax revenues in 2023. In many ways, the existence of the shadow fleet is a sign that sanctions are working. They are forcing Russia to spend billions to try to circumvent them. The UK is investing in the Joint Maritime Security Centre to track shadow fleet activity, and we are finalising new powers to sanction individual vessels.
Lord West of Spithead (Lab)
My Lords, I thank the Foreign Secretary for his Answer. There is no doubt that sanctions are having an impact. Indeed, you only need to look at the Russian-flagged tankers languishing in harbour; that is why Russia has to have this shadow fleet. My question relates directly to the shadow fleet. Thousands of these ships are being operated, many of them under flags of convenience. They are not properly insured or maintained, and they are at the bottom end of the spectrum. Many of them are going through the Great Belt without pilots, coming down the North Sea and through the channel and doing transfers in the Atlantic. It is a recipe for a disaster which will not be properly covered. We have huge clout in this country because we run merchant shipping, really: we have the insurance, all of the lawyers who work in this area and the IMO. Is there more that we can do to screw this down to put even more pressure on Russia? The Chinese are careful because of secondary sanctions. Could we do more to try to stop this?
Lord Cameron of Chipping Norton (Con)
The noble Lord is absolutely right to raise this. As he knows, we have invested money in the Joint Maritime Security Centre, and that is making a difference. We have sanctioned Turkish and Emirati shipping company owners involved in facilitating this shadow fleet. We deploy our diplomatic network to deter third countries where we can, and we are working through the IMO. We are going to have the power to sanction individual vessels and their owners. However, the noble Lord is right to say that there is more we can do. Fundamentally, these are mostly uninsured, leaky, unsafe, environmentally unsound ships, and we should be going after them whenever and wherever we can. It is possible to do more, particularly when they potentially threaten environmental disasters in the countries they are going past. One of the things we want to do at the forthcoming European Political Community meeting is to work with partners to see what more we can do to take this weapon out of Putin’s hands.
AUKUS Security Partnership
Debate between Lord West of Spithead and Lord Cameron of Chipping Norton(9 months, 2 weeks ago)
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Lord Cameron of Chipping Norton (Con)
I very much agree with my noble friend. You can do both those things. It is important that we have a relationship with China. We have many disagreements, and it is an “epoch-defining challenge”, as the integrated review puts it, but, where we can find areas to progress discussions, we should. However, my noble friend is completely right to focus on the emerging democracies of the Far East, which is why I note not just AUKUS but the Hiroshima accord, the ASEAN relationship and the ministerial connections we have in Indonesia, Malaysia and Vietnam. I think I was the first ever serving Prime Minister to visit Vietnam, and I hope to go back soon.
Lord West of Spithead (Lab)
My Lords, this security agreement is incredibly exciting. Without it, we would not be able to develop and get a sufficient number of nuclear submarines to replace the Astute class. For that reason, it is very important. Although the timescale looks long, we should pull teams together now in terms of how we will design and build that submarine because, if we do not, we will not do so in time. Also, because the Australians will have the Virginia class, the Americans will probably start doing a design instead.
Lord Cameron of Chipping Norton (Con)
The noble Lord is completely right that we have to get on with it, which is why there is Team Barrow to bring together the town council, BAE Systems and the Government. A lot of money is being put in—£25 billion from the Government and a further £16 million of levelling-up money—to make sure we have not just the defence capacity but the physical capacity in the town and the people to do this. I am confident we can get this done. The Virginia-class submarines are being sold by the Americans to the Australians to help prevent them from having a gap. It is up to us to make sure we do not have a gap and that there is no break between our excellent Astute-class submarines—I am proud that most of them were built during my time in office as Prime Minister—and the AUKUS submarines that will follow.