Russia: Sanctions

Andy Slaughter Excerpts

Monday 31st January 2022 Commons Chamber

[Elizabeth Truss]

We have taken steps to deal with illicit finance and corrupt elites through the Criminal Finances Act 2017 and our anti-corruption sanctions regime. I have already talked about the commitment to introduce legislation through the economic crime Bill. Today is about showing that the UK is ready with a package of severe sanctions that can target any organisation or individual who is remotely linked or of economic significance to the Russian state, showing there will be nowhere to hide in the event of an incursion into Ukraine. This is about making sure that those economic consequences are as severe as possible. My hon. Friend makes excellent points on the broader issue, but today we are talking about deterring Vladimir Putin from an incursion into Ukraine.

[Andy Slaughter (Hammersmith) (Lab)]

Why have the Government delayed the economic crime Bill? Why are they doing nothing to stop lawfare in the UK courts? Why is the Serious Fraud Office being sued by oligarchs rather than indicting them? Without the laws, the courts and the prosecutors to tackle corruption and dirty money here in Londongrad, are the Foreign Secretary’s threats not empty and vacuous? Will she ensure that the Tories’ Russian gold finds its way back to Moscow?

[Elizabeth Truss]

I have already given the steps that Her Majesty’s Treasury and the Ministry of Justice are taking on the issues that the hon. Gentleman mentioned. The sanctions regime is under direct Foreign Office control. That is why we are taking action as soon as we can, by 10 February, to get these sanctions in place so that we can exercise them in the event of an incursion.