Ukraine Update

Lord Sterling of Plaistow Excerpts

Tuesday 22nd February 2022 Lords Chamber

[Baroness Evans of Bowes Park (Con)]

As I have said, we have set out plans for a register of beneficial owners of overseas entities and we have set out our intentions to reform Companies House. Extensive criminal and civil powers are available to the NCA, including seizure of the proceeds of crime and the ability to deny serious criminals and corrupt elites access to their assets. The NCA has increased its investigations into corrupt assets. The Registration of Overseas Entities Bill will ensure transparency for foreign-owned land in the UK, which is currently easily disguised through offshore companies. A lot of work is going on; as I have already mentioned, we will introduce a new economic crime Bill to take further action in this area.

[Lord Sterling of Plaistow (Con)]

My Lords, I first went to Kyiv with Margaret Thatcher some years ago. I was very concerned later on with the port of Odessa, which has been blocked by warships, which will cause trouble for granary movement throughout the world—so it goes far beyond that. A great deal of that grain goes to the Sudan, Libya and Yemen; they badly need it, because they have starving people. It goes much further abroad. Does my noble friend know whether they will continue to block that port, which is the key port for everything that moves into and out of Ukraine?

[Baroness Evans of Bowes Park (Con)]

I am afraid I do not know the answer to my noble friend’s question.