NATO Summit

Harriett Baldwin Excerpts

Thursday 13th July 2023 Commons Chamber

[The Prime Minister]

As the right hon. Gentleman knows, we have recently hosted the Ukraine recovery conference, for which the Ukrainian Government and people are extremely grateful. It was the most successful conference of its ilk that has happened, raising more than $60 billion for Ukraine’s reconstruction and mobilising private sector capital, as is necessary. It was seen as a significant achievement and the UK leading from the front. With regard to assets, I point him to a good couple of paragraphs in the NATO communiqué. All allies are taking steps, as are we, to legally freeze assets until suitable reparations from Russia have been put in place for reconstruction. He will understand that the international framework for doing so is untested and novel. It requires co-operation among allies, and that co-operation and work is happening.

[Harriett Baldwin (West Worcestershire) (Con)]

Further to the question from the right hon. Member for Birmingham, Hodge Hill (Liam Byrne), I welcome the UK’s strong leadership at the NATO summit and thank the Prime Minister for it. The unity, the resources and the new members send a powerful message. There is no timetable for Ukraine joining NATO, but its membership is only a matter of time. When that time comes, the extent of reconstruction and the investment needed will be vast. A lot of Russian assets are held here and are frozen. Can the Prime Minister elaborate even further on the conversations he had at the summit on how the UK will again play a leadership role in unlocking resources from those Russian assets to help with the reconstruction of Ukraine?

[The Prime Minister]

We have recently published new legislation that will enable sanctions on Russia to be maintained until Moscow pays compensation to Ukraine. I can assure my hon. Friend that we will pursue all lawful routes to ensure that Russian assets are made available in support of Ukraine’s reconstruction, in line with international law. Our international partners are, like the UK, yet to fully test the lawfulness of a new asset seizure regime, but that is exactly the work we are doing with allies, particularly across the G7, to share expertise and experience.