Thursday 24th February 2022

(2 years, 10 months ago)

Commons Chamber
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Boris Johnson Portrait The Prime Minister (Boris Johnson)
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I have just come from a meeting of G7 leaders joined by Secretary-General Stoltenberg of NATO; with permission, I will update the House on our response to President Putin’s onslaught against a free and sovereign European nation.

Shortly after 4 o’clock this morning I spoke to President Zelensky of Ukraine, as the first missiles struck his beautiful and innocent country and its brave people, and I assured him of the unwavering support of the United Kingdom. I can tell the House that at this stage, Ukrainians are offering a fierce defence of their families and their country. I know every hon. Member will share my admiration for their resolve.

Earlier today, President Putin delivered another televised address and offered the absurd pretext that he sought the

“demilitarisation and denazification of Ukraine”.

In fact, he is hurling the might of his military machine against a free and peaceful neighbour, in breach of his own explicit pledge and every principle of civilised behaviour between states, spurning the best efforts of this country and our allies to avoid bloodshed. For that, Putin will stand condemned in the eyes of the world and of history. He will never be able to cleanse the blood of Ukraine from his hands.

Although the UK and our allies tried every avenue for diplomacy until the final hour, I am driven to conclude that Putin was always determined to attack his neighbour, no matter what we did. Now we see him for what he is: a blood-stained aggressor who believes in imperial conquest.

I am proud that Britain did everything within our power to help Ukraine prepare for this onslaught, and we will do our utmost to offer more help as our brave friends defend their homeland. Our Embassy took the precaution on 18 February of relocating from Kyiv to the city of Lviv in western Ukraine, where our ambassador Melinda Simmons continues to work with the Ukrainian authorities and to support British nationals.

Now we have a clear mission: diplomatically, politically, economically and eventually militarily, this hideous and barbaric venture of Vladimir Putin must end in failure. At the G7 meeting this afternoon, we agreed to work in unity to maximise the economic price that Putin will pay for his aggression. This must include ending Europe’s collective dependence on Russian oil and gas that has served to empower Putin for too long, so I welcome again Chancellor Scholz’s excellent decision to halt the certification of Nord Stream 2.

Countries that together comprise about half the world economy are now engaged in maximising economic pressure on one that makes up a mere 2%. For our part, today the UK is announcing the largest and most severe package of economic sanctions that Russia has ever seen. With new financial measures we are taking new powers to target Russian finance. In addition to the banks we have already sanctioned this week, today, in concert with the United States, we are imposing a full asset freeze on VTB.

More broadly, these powers will enable us totally to exclude Russian banks from the UK financial system, which is of course by far the largest in Europe, stopping them from accessing sterling and clearing payments through the UK. With around half of Russia’s trade currently in US dollars and sterling, I am pleased to tell the House that the United States is taking similar measures.

These powers will also enable us to ban Russian state and private companies from raising funds in the UK, banning dealing with their securities and making loans to them. We will limit the amount of money that Russian nationals will be able to deposit in their UK bank accounts, and sanctions will also be applied to Belarus for its role in the assault on Ukraine.

Overall, we will be imposing asset freezes on more than 100 new entities and individuals, on top of the hundreds that we have already announced. This includes all the major manufacturers that support Putin’s war machine. Furthermore, we are also banning Aeroflot from the UK.

Next, on top of these financial measures and in full concert with the United States and the EU, we will introduce new trade restrictions and stringent export controls similar to those that they in the US are implementing. We will bring forward new legislation to ban the export of all dual-use items to Russia, including a range of high-end and critical technological equipment and components in sectors including electronics, telecommunications and aerospace. Legislation to implement this will be laid early next week. These trade sanctions will constrain Russia’s military-industrial and technological capabilities for years to come.

We are bringing forward measures on unexplained wealth orders from the economic crime Bill, to be introduced before the House rises for Easter, and we will set out further detail before Easter on the range of policies to be included in the full Bill in the next Session, including on reforms to Companies House and a register of overseas property ownership. We will set up a new dedicated kleptocracy cell in the National Crime Agency to target sanctions evasion and corrupt Russian assets hidden in the UK, and that means oligarchs in London will have nowhere to hide.

I know that this House will have great interest in the potential of cutting Russia out from SWIFT, and I can confirm, as I have always said, that nothing is off the table. But for all these measures to be successful, it is vital that we have the unity of our partners and unity in the G7 and other fora.

Russian investors are already delivering their verdict on the wisdom of Putin’s actions. So far today, Russian stocks are down by as much as 45%, wiping $250 billion from their value in the biggest one-day decline on record. Sberbank, Russia’s biggest lender, is down by as much as 45% and Gazprom down by as much as 39%, while the rouble has plummeted to record lows against the dollar. We will continue on a remorseless mission to squeeze Russia from the global economy piece by piece, day by day, and week by week.

We will of course use Britain’s position in every international forum to condemn the onslaught against Ukraine, and we will counter the Kremlin’s blizzard of lies and disinformation by telling the truth about Putin’s war of choice and war of aggression. We will work with our allies on the urgent need to protect other European countries that are not members of NATO and that could become targets of Putin’s playbook of subversion and aggression. We will resist any creeping temptation to accept what Putin is doing today as a fait accompli. There can be no creeping normalisation, not now, not in the months to come, not in the years ahead.

We must strengthen NATO’s defences still further. So today I called for a meeting of NATO leaders that will take place tomorrow, and I will be convening the countries that contribute to the joint expeditionary force, which is led by the United Kingdom and comprises both NATO and non-NATO members.

Last Saturday, I warned that this invasion would have global economic consequences, and this morning the oil price has risen strongly. The Government will do everything possible to safeguard our own people from the repercussions for the cost of living, and of course we stand ready to protect our country from any threats, including in cyberspace.

Above all, the House will realise the hard and heavy truth that we now live in a continent where an expansionist power, deploying one of the world’s most formidable military machines, is trying to redraw the map of Europe in blood and conquer an independent state by force of arms. It is vital for the safety of every nation that Putin’s squalid venture should ultimately fail, and be seen to fail. However long it takes, that will be the steadfast and unflinching goal of the United Kingdom, I hope of every Member of this House and of every one of our great allies, certain that together we have the power and the will to defend the cause of peace and justice, as we have always done.

I say to the people of Russia, whose President has just authorised an onslaught against a fellow Slavic people, that I cannot believe this horror is being done in your name or that you really want the pariah status that these actions will bring to the Putin regime. To our Ukrainian friends in this moment of agony, I say that we are with you and we are on your side. Your right to choose your own destiny is a right that the United Kingdom and our allies will always defend, and in that spirit I join you in saying “Slava Ukraini”. I commend this statement to the House.

Keir Starmer Portrait Keir Starmer (Holborn and St Pancras) (Lab)
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In this dark hour, our thoughts, our solidarity and our resolve are with the Ukrainian people. Invading troops march through their streets and missiles shell their cities. They have been cast into a war through no fault of their own, because Putin fears their freedom and because he knows that no people will choose to live under his bandit rule unless forced to do so at the barrel of a gun.

The consequences of Putin’s war of aggression will be horrendous and tragic for the people of Ukraine, but also for the Russian people, who have been plunged into chaos by a violent elite who have stolen their wealth, stolen their chance of democracy and stolen their future.

We must prepare ourselves for difficulties here. We will face economic pain as we free Europe from dependence on Russian gas and oil and clean our institutions of money stolen from the Russian people, but the British public have always been willing to make sacrifices to defend democracy on our continent, and we will again. The consequences of Putin’s actions will be felt throughout the world for years and, I fear, for decades to come.

Russia’s democratic neighbours and every other democracy that lives in the shadow of autocratic power are watching their worst nightmare unfold. All of us who believe in democracy over dictatorship, in the rule of law over the reign of terror and in freedom over the jackboot of tyranny must unite and take a stand. We must support the Ukrainian people in their fight and we must ensure that Putin fails.

Putin will eventually learn the same lesson that European tyrants learned in the last century: that the resolve of the world is harder than he imagines, that people’s desire for freedom burns brighter than he can ever extinguish, and that the light of liberty will prevail over his darkness. For that to happen, we must make a clean break with the failed approach to handling Putin, which after Georgia, after Crimea and after Donbas has fed his belief that the benefits of aggression outweigh the costs. We must finally show him that he is wrong. That means doing all that we can to help Ukraine to defend herself by providing weapons, equipment and financial assistance, as well as humanitarian support for the Ukrainian people. We must urgently reinforce and reassure our NATO allies in eastern Europe who now stand at the frontier of Putin’s aggression.

The hardest possible sanctions must be taken against the Putin regime. It must be isolated, its finances frozen and its ability to function crippled. That means excluding Russia from financial mechanisms such as SWIFT and banning trade in Russian sovereign debt. I welcome the set of sanctions outlined by the Prime Minister just now and pledge Opposition support for further measures.

There are changes that we must make here in the UK. For too long, our country has been a safe haven for the money that Putin and his fellow bandits stole from the Russian people. It must now change. Cracking open the shell companies in which stolen money is hidden will require legislation. The Prime Minister should bring it forward immediately, and Labour will support it, along with the other measures that he has just outlined. [Hon. Members: “Monday.”] Thank you, and we will support it.

This must be a turning point in history. We must look back and say that this terrible day was when Putin doomed himself—and his plan to reassert Russian force as a means of controlling eastern Europe—to defeat. We know how he operates so we know how to defeat him. He seeks division, so we must stand united. He hopes for inaction, so we must take a stand. He believes that we are too corrupted to do the right thing, so we must prove him wrong. I believe that we can and that in this dark hour, we can step towards the light.

Boris Johnson Portrait The Prime Minister
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I want to say how grateful I am to the right hon. and learned Gentleman for the terms in which he has just spoken and for the robust support that he is offering to the Government and to the western alliance at a very difficult time. The whole House can be turning to some of the issues that he raised.

Briefly, I think the whole House can be proud of the role that the UK has played in pioneering military support—logistical support—to the Ukrainians and the role that we have played in bringing together a ferocious package of sanctions that we will now implement. We will bring our allies together to protect NATO and to show that President Putin will get a tougher western alliance as a result of his actions, not a weaker western alliance.

I think that events will show that the Russian President has profoundly miscalculated. He believes that he is doing this for his own political advantage. I believe the exact opposite will prove to be the case, because of the resistance that will be mounted against what he is doing, not just in Ukraine but around the world. We will support those Ukrainians. We will support them economically, diplomatically, politically and, yes, militarily as well, and I know that in due time we will succeed.