Ukraine: Minsk II Protocol

Lord Collins of Highbury Excerpts

Wednesday 26th January 2022 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, no one wants to see body bags. But it is for Russia—Russia is the aggressor here. A key point is Crimea: Russia is occupying, under international law, sovereign territory of another country. We should not lose sight of that. We are seeking to work with our alliances, including NATO. We are working with key partners, and I have assured noble Lords that we continue to engage directly with the Russians as well.

[Lord Collins of Highbury (Lab)]

My Lords, the Minister refers to action required to stop Russia taking this aggressive act. On Tuesday, Boris Johnson told the House of Commons that the Government were bringing forward a register of beneficial ownership as part of their efforts to track down Russian money in this country. However, the noble Lord, Lord Agnew, who had oversight of counterfraud, revealed in his resignation letter to Boris Johnson on Monday that, in a decision apparently taken last week, the economic crime Bill has been rejected for consideration during the next parliamentary year. Who is correct? I know who I believe.

[Lord Ahmad of Wimbledon (Con)]

My Lords, first, I acknowledge from our side, and indeed from across the House, the valuable services of my noble friend Lord Agnew, who served this House well. I recognise the important role he has played. As someone who has great respect for my noble friend, I listened carefully to the statement he made. The issue of illicit finance is important and it is a key priority for this Government. My right honourable friend the Prime Minister has committed once again to ensuring that we weed out the fact that London is still used—I fully accept this—as a base for money laundering and illicit finance by some. We need to take further action. On the specific point about the Bill, I will refer to my colleagues at the Treasury and write to the noble Lord.