Sanctions

Julian Lewis Excerpts

Monday 28th February 2022 Commons Chamber

[Elizabeth Truss]

I announced today that export controls will apply to critical technologies, which will make it much harder to invest in the oil and gas industry, the technology industry and, of course, the military-industrial complex in Russia. The hon. Lady is right that the fundamental issue here is that Putin is reliant on oil and gas revenues, which is where we need to work with our G7 partners. Continental Europe is predominantly dependent on oil, gas and coal from Russia, and we need to help it to reduce that dependency so that Putin has nowhere to source his funds. That is what we are doing through the G7.

[Dr Julian Lewis (New Forest East) (Con)]

As a matter of superior tactics, does my right hon. Friend accept that the right way to deal with a robotic, sneering psychopath firmly in the grip of small-man syndrome is not to impose sanctions in a piecemeal and gradually escalating way but to seek to inflict maximum economic pain at the earliest possible moment?

[Elizabeth Truss]

Yes is the answer, and that is what we are doing; we are pushing as hard as we can for the toughest possible sanctions. This is the biggest package of sanctions the UK has ever put in place in our history, and we want to do even more and we want to push it with our allies. Together with the G7, we represent half the global economy, and that is what will really shift Putin’s behaviour. That is what will really degrade the Russian economy and stop him being able to fund his war machine.