Ukraine

Ben Bradshaw Excerpts

Monday 21st February 2022 Commons Chamber

[Mr Wallace]

If Russia wants to be dependent on China, I think it will recognise that that will be the wrong decision. China and Russia are in direct competition over the high north and the route through the Arctic, and Russia will surely not want to depend entirely on China, in the same way that many European states are regretting being entirely dependent on Russian gas. It is important, however, that we impose a range of sanctions that are directed not only at the Russian Government, but at some of Russia’s bankers and those who help the regime carry on as normal.

[Mr Ben Bradshaw (Exeter) (Lab)]

I fully support what the Defence Secretary said and the shadow Secretary of State’s response. However, as the architect of unexplained wealth orders, the Defence Secretary must share the widespread frustration that not a single one has been issued under the current Prime Minister—not a single Russian given a golden visa has been named. Why does the Defence Secretary think that we have been so slow at tackling dirty Russian money in London?

[Mr Wallace]

Unexplained wealth orders are not a matter for politicians; they are for economic crime investigators and the National Crime Agency. I can no more direct an unexplained wealth order than the right hon. Gentleman can. However, when I was Security Minister I was the victim of a Russian fraud that tried to suggest that I had a conversation with and tried to direct the Russian Prosecutor General.

I am disappointed that there have not been as many unexplained wealth orders as I had hoped, but the legislation was taken through and they represent a powerful model. They have been used against some pretty unsavoury people—I am delighted with that—but the right hon. Gentleman is right that not enough have been used. We are quite unique in having them—not many other countries do—and we should use them more, but we should understand why the NCA has not delivered as many as we would have hoped.

There are other tools to be considered. I welcome the long-term commitment on beneficial ownership, and I think we will soon see the Companies House legislation. I remember being horrified to discover that a sanctioned individual could start a company because, in those days, I do not think that there was even an identity check. That has to stop. There has been some tightening up, but it will take legislation, and I hope the whole House will support it.