G20

Malcolm Rifkind Excerpts

Monday 17th November 2014 Commons Chamber

[The Prime Minister]

I think we have done the right thing in terms of listening to the security and intelligence services and listening to the independent reviewer of terrorism, who said he thinks the steps we have taken have been the right ones. Of course, we will announce the full range of measures we will be taking in the anti-terrorism Bill. The Bill will come before the House, I believe, before the end of the month.

[Sir Malcolm Rifkind (Kensington) (Con)]

While I pay tribute to the many robust exchanges that the Prime Minister and other western leaders had with Mr Putin on Ukraine, has there not yet again been a failure to make it clear to Mr Putin that the heavy Russian artillery and forces flooding into Ukraine as we speak will lead not just to sanctions but to economic and financial sanctions? Will my right hon. Friend not acknowledge that further visa controls and asset freezes on Mr Putin’s cronies will be as meaningless, impotent and irrelevant as they have been in the past?

[The Prime Minister]

I hugely respect my right hon. and learned Friend’s position, views and experience, but on this particular issue I do not entirely agree. If we look at the decline in the rouble, the difficulties Russian banks have had in raising finance and the fact that Russian growth has been downgraded, all combined with an oil price where the Russian budget does not remotely balance, I think there is economic pressure. As long as we stay united, keep up that pressure and respond to further destabilisation with further pressure, it may take time but I think we can persuade Russia that there is a different and better path to take.