CHOGM, G7 and NATO Summits

Bim Afolami Excerpts

Monday 4th July 2022 Commons Chamber

[The Prime Minister]

The hon. Gentleman is right that we have to keep tightening the noose the whole time. The Economic Crime and Corporate Transparency Bill will help. It will give us new powers to seize crypto assets and new powers over money laundering. One thing he will have spotted at the G7, which was very important, was the new sanctions on Russian gold worth £13.5 billion, which I mentioned in my statement. That will hit them.

[Bim Afolami (Hitchin and Harpenden) (Con)]

I welcome what the Prime Minister has said about working with other countries to reduce the price of oil and gas, which is critical in this country and across the world. Will he give the House a bit more detail on how we have been working with other countries, particularly in the Commonwealth, on investing in renewable energy, which is clean, safe and secure and reduces our dependence on hydrocarbons over the medium term?

[The Prime Minister]

The answer is that the UK is making massive investments in Commonwealth countries. In the G7, the partnership for global infrastructure and investment helps developing countries around the world to move forward and to make the leap ahead to green technology, and to take investment from the UK—and not perhaps from others who are busier in getting them to pay their debts.