Repurposing Russian Assets to Rebuild Ukraine

Alex Sobel Excerpts

Tuesday 27th June 2023 Commons Chamber

[Stephen Doughty (Cardiff South and Penarth) (Lab/Co-op)]

It is a pleasure to speak in this debate, and I thank all my right hon. and hon. Friends, and indeed all Members, who have contributed to it. It has come at a pivotal moment, just a week after the Ukraine reconstruction conference, and at a critical time in Russia’s brutal war against the people of Ukraine. I draw attention to my declaration in the Register of Members’ Financial Interests as a shadow Minister.

Today’s debate has underscored not only the degree of unity and consensus in the House on the need to stand with Ukraine for as long as it takes, but the strong appetite for the UK to go even further. I commend the speeches we have heard from Members on both sides of the House, which had common themes. My hon. Friend the Member for Llanelli (Dame Nia Griffith) spoke powerfully about her experience of visiting Ukraine and seeing the destruction. My hon. Friend the Member for Stretford and Urmston (Andrew Western) set out the record of loss and damage. My hon. Friend the Member for Warwick and Leamington (Matt Western) explored how other allies, including Canada, are taking action. My hon. Friend the Member for Newcastle upon Tyne North (Catherine McKinnell) emphasised the need for urgency—that was a common message in all the speeches today. We heard a powerful speech from my right hon. Friend the Member for Birmingham, Hodge Hill (Liam Byrne), with whom I travelled to Ukraine in September last year, about the wider consequences of not acting, the importance of deterrence and the fundamental importance of justice. My hon. Friend the Member for St Helens South and Whiston (Ms Rimmer) gave a powerful illustration of the loss and destruction in the beautiful country of Ukraine.

We also heard many excellent speeches from the Government side. We had helpful legal clarity from the right hon. Member for Chingford and Woodford Green (Sir Iain Duncan Smith). We had a useful question from the right hon. Member for New Forest East (Sir Julian Lewis) about the accrual of interest on the assets that are being held. We heard many other powerful contributions, which all had one common message.

It is beyond doubt that there is only one perpetrator responsible for the unjustified and unprovoked invasion of Ukraine, and that is Russia and Putin. We all remain committed to a just and lasting peace based on respect for the UN charter and Ukraine’s sovereignty and territorial integrity, but also its future prosperity and the flourishing of its democracy. We all want to see that.

However, intention alone will not bring Ukraine to that destination. We all need to be clear that it will take decades of commitment, determination, consistency and investment to ensure that that happens. Labour has been consistent in calling on the Government to repurpose Russian state assets to help rebuild critical Ukrainian infrastructure, provide much-needed humanitarian aid to the country and invest in its future, and I commend the work of my hon. Friend the Member for Rhondda (Sir Chris Bryant) in that regard in his ten-minute rule Bill. We have called for those things because we believe in justice, but we also believe in deterrence—

[Alex Sobel (Leeds North West) (Lab/Co-op)]

Will my hon. Friend give way?

[Mr Deputy Speaker (Sir Roger Gale)]

Order. I am terribly sorry, but I think I am right in saying that the hon. Gentleman has just walked into the Chamber.