European Council

Andrea Leadsom Excerpts

Monday 10th March 2014 Commons Chamber

[The Prime Minister]

The hon. Lady asks a very important question. The EU, rightly, is being guided by the IMF team in Ukraine. The IMF has the real expertise on what is needed in terms of conditions, guarantees and undertakings on economic reforms to release an IMF programme. The majority of the EU money is conditional on that IMF programme going ahead.

[Andrea Leadsom (South Northamptonshire) (Con)]

Has the Prime Minister been able to assess reports that up to £100 billion was stolen by the previous Ukraine regime? What steps is the EU Council making to try to retrieve that money? Do we need more international action to ensure that offshore banks take very seriously their duty to check where money is coming from to avoid authoritarian regimes impoverishing their countries?

[The Prime Minister]

My hon. Friend’s point is absolutely key. As I said in the House last week, the reaction of the Ukrainian people against their former President was as much about being against corruption, and the massive larceny that has taken place on an industrial scale in that country, as it was about making a statement on whether to move closer to Europe or in another direction. I have seen reports of vast sums and figures. We should redouble our commitments to get to the bottom of whether we can recover any of the stolen money and return it to the Ukrainian people. In our international and diplomatic work, and in our aid work, we should redouble our efforts to tackle corruption right across the world.