Russian Assets: Seizure

Debate between Anne-Marie Trevelyan and Jonathan Djanogly

Tuesday 14th March 2023 Commons Chamber

[Anne-Marie Trevelyan]

I thank the hon. Gentleman for that. If I may, I will continue with my speech before I run out of time. I hope to give him some assurance on his question.

We are continuing to engage with think-tanks, lawyers and Members of the House, and those they are working with, to ensure that we test every available option in detail. I reiterate that I am genuinely grateful to all colleagues for their interventions and proposals to help us work on these challenges, and we are meeting them regularly.

I want to be clear that the Government believe that we should develop the power for frozen assets to be used to rebuild Ukraine, to ensure that we can achieve that practically and lawfully. Given that Ukraine is fighting for its future and the principles of the UN charter and international law, it would be an own goal for Ukraine’s allies to risk being seen to act inconsistently with domestic and international law in their approach to seizing Russian assets.

[Mr Djanogly]

Is there not also a concern that if we do not act with our allies to move ahead on this principle, and we all start doing our own deals on releasing assets, that would be very damaging for the wall of sanctions? Indeed, the Ukrainians have said that they would be very much against individual deals.

[Anne-Marie Trevelyan]

I thank my hon. Friend for setting out one of the important issues that we are making sure we work on as effectively as possible. We are working very closely with our allies on the handling of seized Russian assets, and we will continue to do so. Let us be clear: our international partners face the same challenge. No country has yet found a legally tested solution. The right hon. Member for Barking (Dame Margaret Hodge) highlighted that Canada is testing the first seizure proposals and we are watching closely. I reassure the House that as progress is made by individual international partners, we will be right alongside them in considering how the UK can find solutions here too. Of course, as has been set out by colleagues, many proposals need UN leadership, and we will keep on driving that coalition.

In the meantime, we have made it clear that, consistent with our legal systems, Russia will have no access to the assets we have frozen or immobilised until it ends, once and for all, its violation of Ukraine’s sovereignty and territorial integrity. Russia will not get a single euro, dollar or pound back until that is realised.

Colleagues have raised questions about the Economic Crime and Corporate Transparency Bill. It will sit alongside the National Security Bill, the Online Safety Bill and the forthcoming economic crime and fraud strategy. It will bear down on criminals who abuse our open economy by reforming Companies House to prevent abuses of limited partnerships; there will also be reforms to target more effectively information sharing to tackle money laundering. The right hon. Member for Barking is right about the effectiveness of section 11 of the Sanctions and Anti-Money Laundering Act 2018, and it is used regularly.

I know that right hon. and hon. Members will be disappointed that I cannot speak more fully about sanctions enforcement and OFSI, as these are matters for His Majesty’s Treasury, but I know they will continue to raise their concerns directly and I have heard them today.

UK-Australia Free Trade Agreement

Debate between Anne-Marie Trevelyan and Jonathan Djanogly

Wednesday 5th January 2022 Commons Chamber

[Anne-Marie Trevelyan]

I am thrilled that the hon. Gentleman is so pleased for those Scottish food and drink producers, who I absolutely agree will have great opportunities. They are very exciting new market opportunities that those producers will, I have no doubt, take up with gusto.

Again, I reiterate that I am reassured by the safeguards we have brought in. The quota levels are built, but the existing quotas are not being used at all because the markets that Australia chooses to sell into at the moment—because the prices are better—are the Asia-Pacific ones, where there continues to be a growing middle class looking to have good-quality meat as part of their diet. I am looking forward to our ability to accede to the CPTPP, through which our farmers will also have opportunities to access those new markets.

[Mr Jonathan Djanogly (Huntingdon) (Con)]

First, I welcome the Secretary of State’s very positive win-win attitude towards trade negotiations, as opposed to that of some others in this House. She mentioned visas, specifically for young people. Could she give the House a little bit more information about the projected numbers of workers likely to be going backwards and forwards, and the sectors they are likely to be involved with?

[Anne-Marie Trevelyan]

I will ask the team to write to my hon. Friend about the technical detail, because I do not have those figures to hand. However, really importantly, beyond the question of the opportunities that under-35s on a three-year visa have, being free to choose what they want to do when they go and work in Australia, that shift from a two-year visa to a four-year visa for executives and managers who want to work in any number of sectors—and, indeed, for their families to be able to work in Australia as well—is a huge opportunity for our workforce to go and enjoy Australian opportunities, and also to bring UK expertise to our great friend and ally.