Russia: UK Companies

Chris Bryant Excerpts

Wednesday 7th December 2022 Commons Chamber

[Chris Bryant (Rhondda) (Lab)]

I am sorry, but this is just terribly complacent. It is 3,218 days since the annexation of Crimea, and there are still British companies that seem to be invested in Crimea, let alone British companies—including Infosys, from what I understand; the Minister did not refute that point earlier—that are still operating in Moscow and Russia with a staffed office. He says he will not comment on individual companies, but he does it all the time: that is what sanctions are. That is the whole point of sanctions. Some £778 million-worth of Russian oil has ended up coming into 10 British ports this year, having been transferred from one ship to another on the route here. This is complacency. We have to have a total effort from every Government Department to make sure that we stop funding Putin’s illegal war.

[James Cartlidge]

As ever, the hon. Gentleman makes his point with his usual passion. The point I was making was not to refute or in any way entertain points about individual companies; I am simply saying that it is long-standing Treasury policy not to comment on individual taxpayers or companies, or on their commercial activities, and I suspect that would be true of any Government.

The hon. Gentleman mentions oil. I remind him that on Monday, in alignment with coalition partners, we banned the import of Russian oil and oil products into our markets. In conjunction with partners, we have prohibited UK ships and services from the maritime transportation of Russian oil unless the price paid is at or below $60 a barrel.