Exiting the European Union (Sanctions)

Conor McGinn Excerpts

Tuesday 9th April 2019 Commons Chamber

[Sir Alan Duncan]

The answer is that we wish there was clearer evidence that they are working. I was at the meeting of European Foreign Ministers yesterday in Luxembourg, where Venezuela was the main topic over lunch. The hon. Gentleman is quite right that 3.6 million people have fled Venezuela. The latest forecast is that the collapse in Venezuela’s economy will exceed that of Zimbabwe’s economic collapse all that time ago and that it will collapse by over 25% this year. We are being very careful to make sure that we target individuals around President Maduro and President Maduro himself, rather than the people who are suffering enough. He will appreciate, as I think the whole House does, that it is a massive challenge to design sanctions that hit the right people and do not hit the wrong people, who are, as I say, suffering enough. Any brilliant ideas he has would be willingly received, but we are working very closely with the EU and the Lima Group to ensure that any properly targeted sanctions we can possibly apply will be applied at the earliest opportunity.

[Conor McGinn (St Helens North) (Lab)]

rose—

[Matt Rodda (Reading East) (Lab)]

rose—

[Sir Alan Duncan]

At the risk of turning this into a general debate on Venezuela, I will give way to both hon. Gentlemen.

[Conor McGinn]

Given what the Minister has said, does he envisage an increase or a reduction in sanctions in relation to Venezuela when the UK has full autonomy over its sanctions policy?

[Sir Alan Duncan]

It is possible that we could do some things on our own and increase sanctions in that way. We have particular focus, through the City of London, on financial matters where we might have, if you like, the lead. However, it would be our wish and our intention to work in close harmony with the EU and the Lima Group of countries, the immediate neighbours of Venezuela, to make sure we all speak with one voice, rather than President Maduro being able to take advantage of there being a number of different voices around the world acting against him or commenting.