Ukraine

Liam Byrne Excerpts

Thursday 22nd February 2024 Commons Chamber

[Liam Byrne (Birmingham, Hodge Hill) (Lab)]

May I urge the Secretary of State to step up pressure on his colleagues to shut down sanctions evasion? The Business and Trade Committee recently took evidence from the National Crime Agency, which said that the UK is still one of the world’s favourite places for economic crime and sanctions evasion. Companies House and the proposed new identification regime were widely criticised by the stakeholders we heard from. Of course, we also have the whacking great loophole called limited partnerships, which the Government are not currently proposing measures to shut down. We must shut down the spigots of cash that are funding Putin’s war machine, and we can play a role in that in the UK as well.

[Grant Shapps]

The right hon. Gentleman is absolutely right about that. As I said, after a period of time, sanctions become holed, and people can get around them and through them. I have always taken a particularly tough line on the basic principle that people should not be friends with Putin and be able to benefit from that. Indeed, at least one yacht and a couple of private jets are grounded as a result of measures I took in the early days of the war when I was Transport Secretary.

The right hon. Gentleman made a wider point on seizing assets. The way to do that and make it work is through the G7 and international partners, so that it is completely solid. Again, as in many other areas, we will try to lead that debate. As I have promised the House before, we will also look at what may have worked initially but now is not working. I respect the work that he has been doing on it, and I will certainly encourage my colleagues in government to follow through.