Ukraine

Jeevun Sandher Excerpts

Monday 24th February 2025 Commons Chamber

[Mr Lammy]

The right hon. Gentleman has reminded the House of the seriousness, and the responsibilities, that we have as permanent members of the United Nations Security Council. That seriousness is underpinned by the UN Charter, which Russia breached, and in doing so it has made a serious hole in the way the Security Council works. Let us get beyond that; but if we are to do so, Russia should withdraw and should come to the table with the central issue of peace and making amends at its heart.

[Dr Jeevun Sandher (Loughborough) (Lab)]

Keeping ourselves safe here means showing Putin that we have the resolve and the resources to defeat him, as indeed we have. In European NATO our combined GDP is about $24.5 trillion, and the GDP of the United States is $27 trillion, while Russia’s is just $2 trillion. We have more resources, and converting them into more fighting forces, tanks, guns and drones is key, but we can go further. Russian central bank assets held by ourselves and our allies amount to more than £200 billion, including £170 billion in Belgium and £26 billion here, and Putin could use those reserves in the future to rebuild his armed forces. Can the Foreign Secretary assure me that he is doing everything he can to convince our allies of the need to seize those assets to keep us safe and to fund Ukraine?

[Mr Lammy]

My hon. Friend asks a good question. If we are serious about the responsibility of burden sharing across Europe and, indeed, across G7 nations at this time, one of the issues on the table is moving from freezing assets to seizing those assets. It is a live discussion. There are other ways to find the funds, and that was a topic of discussion in Munich and at the G7, but we must now move from discussion to action.