G7

Emily Thornberry Excerpts

Monday 17th March 2025 Commons Chamber

[Madam Deputy Speaker]

I call the Chair of the Foreign Affairs Committee.

[Emily Thornberry (Islington South and Finsbury) (Lab)]

I am so pleased to see the Foreign Secretary continuing to lead our allies in support of Ukraine, and equally pleased to see that he has expressed his support for moving from freezing to seizing Russian assets—we have £18 billion-worth of them held in the UK. However, if we are serious about doing that, we need to start getting on with it. What moves is his Department making—for example, putting legislation on the books to allow us to seize those assets when the right time comes? I am glad to hear that there are discussions on that, but has pressure been put on our G7 and EU allies, who still sit on the remaining £300 billion-worth of assets, which perhaps need to be seized at this stage? Has he considered putting forward a UN General Assembly resolution to provide the legal basis for co-ordinated asset seizures?

[Mr Lammy]

I am grateful to my right hon. Friend for her question and, of course, for her leadership of the Foreign Affairs Committee. I reassure her that we continue to work closely with our allies on this issue, including through the lengthy discussions that we had at the G7, but let me emphasise that it is important in this particular area that any way forward involves a pooling of that exercise. I do not believe that it would be right for the UK to act unilaterally in this instance; therefore, this is a multilateral endeavour and discussion. She is right to emphasise that we should work at pace, and I reassure her that we are doing so.