Frozen Russian Assets: Ukraine
Debate between Caroline Nokes and James MacCleary(1 week, 2 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
James MacCleary
I thank the hon. Member for his intervention. It is as if I had given him a copy of my speech; I was about to come on to that. Stopping the Russian assault on Ukraine is part of a wider struggle for the future of democracy and liberty, in Europe and around the world. Russian ruler Vladimir Putin has made this war an existential one, staking the future of his regime on it. We must be in no doubt that current and wannabe dictators are watching closely to see how European powers respond to Russia’s challenge. Any wavering in our support for Ukraine could easily be interpreted as a green light to others to launch grabs for coveted territory. In short, the basis of the liberal world order is at stake, and Britain has a duty to protect that order, which we did so much to create.
With the looming return of Donald Trump to the White House, the stakes for Europe could not be higher. The future of US support for Ukraine is uncertain, and Europe must be prepared to step up. This is a wake-up call for the UK; we must lead within Europe and ensure that brave Ukrainians receive the robust support that they need from us.
Beyond repurposing Russian assets, we must also address the systemic failures that have allowed dirty money to flood into our economy. The UK has long been a destination of choice for Russian wealth, much of it funnelled through loopholes in economic crime legislation. It is time to properly resource the National Crime Agency, close these loopholes, and make it clear that kleptocrats are no longer welcome here.
Members who, like me, are students of Russian and east European history will be familiar with the word Holodomor. There have been lots of references to history and the lessons that we should take from it. For those who are not familiar with the word, we would simply call it the Ukrainian famine. In 1932 and 1933, uncounted millions of Ukrainians starved to death as a direct result of policies prosecuted by another dictator in the Kremlin, Joseph Stalin. I genuinely hope that those in this Chamber in the future will not look back on us and say that we could have done more to stop another great crime against the Ukrainian people.
The Liberal Democrats have been clear that this is about more than military aid; it is about holding Russia accountable and strengthening Ukraine’s defences. Ukraine’s fight is our fight; by taking action now, the UK can reaffirm that aggression will never be rewarded, that Europe will always stand firm in defence of freedom, and that Britain remains at the heart of the continent’s security and values.
