Sanctions: Russian Individuals

Baroness Meacher Excerpts

Thursday 25th April 2024 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

First, I commend my noble friend for summarising exactly the intent of the UK Government and our partners: to go from freeze to seize. All countries in the G7 have been clear on this. There is a meeting in June, which we will be part of, to look specifically at proposals on the table. The focus right now is on a windfall-plus proposal put forward by the United States, which would involve a loan to Ukraine issued by the US and other willing G7 members and repaid over several years from the future profits generated by Russian sovereign assets held in Euroclear. This is just one practical example of the kind of work that we are doing in co-ordination with our key partners.

[Baroness Meacher (CB)]

My Lords, I strongly support the idea of sanctioning Mr Putin and his colleagues, but once again I ask the Government to provide some assurance that great care will be taken to protect the great Russian people—many of whom I know—who may have assets and yet have nothing to do with the war in Ukraine and who have never supported Mr Putin anyway, in general. They are at risk as this country and other countries extend the scope and severity of the sanctions against Mr Putin and his colleagues.

[Lord Ahmad of Wimbledon (Con)]

As I have said to the noble Baroness and others, and as I know all noble Lords agree, our fight is not against the Russian people. We have seen the appalling treatment of those Russians who have been brave—let us not forget the tragic case of Mr Navalny. We are currently seeing others being held, and I know noble Lords are very much seized of that. We need to ensure that we stand with the Russian people against the draconian regime which suppresses their rights as well. I add that our own sanctions regime is based on a principle which allows for legal recourse, if an individual or an organisation has been sanctioned unfairly. This again underlines the importance of the system of appealing against sanctions, if the individual or the organisation feels that it has been unfairly applied.