Oral Answers to Questions

Debate between John Penrose and Ben Wallace

Monday 4th June 2018 Commons Chamber

[John Penrose (Weston-super-Mare) (Con)]

T8. On 6 April the USA announced tough sanctions against 24 Russian Government officials and oligarchs, including Oleg Deripaska, whose company floated here in London last year. When will we publish an equivalent British sanctions list on people whose presence and dirty money are not welcome on our shores?

[The Minister for Security and Economic Crime (Mr Ben Wallace)]

I pay tribute to my hon. Friend for the work he has done on this issue as the Government’s anti-corruption tsar. Like him, I was incredibly interested in the sanctions list that the United States published. He will be aware that the Sanctions and Anti-Money Laundering Act 2018 has gone through this House. There are further opportunities to strengthen the regime with, I hope, a Bill coming forward from the Department for Business, Energy and Industrial Strategy with regard to designations. We will be exploring that issue. It is important to note that the United Kingdom has recently been at the forefront of driving out dirty Russian money—or indeed other dirty money. It is important that we tackle this issue head on.