Ukraine Recovery Conference

Martyn Day Excerpts

Thursday 22nd June 2023 Commons Chamber

[Mr Deputy Speaker (Sir Roger Gale)]

I call the SNP spokesman, Martyn Day.

[Martyn Day (Linlithgow and East Falkirk) (SNP)]

I am grateful to the Minister for advance sight of his statement, and I welcome its contents. The SNP wholeheartedly welcomes the Prime Minister’s pledge at the beginning of the recovery conference to provide the $3 billion World Bank loan guarantees. My colleagues and I, and indeed the whole House, stand in unwavering solidarity with the people of Ukraine. We have always condemned, and will continue to condemn, in the strongest possible terms, Putin’s unprovoked invasion of a peaceful, democratic neighbour.

Our Ukrainian allies are to be commended for never giving up in their fight for territorial integrity and self-determination. Ukraine is fighting not only for the respect and sanctity of its own borders, but for the very principles of world order and the international rule of law. Ukrainian officials and forces must know that until Russian troops withdraw from all occupied Ukrainian land, we will not stop calling for increased and continuing support, both military and non-military.

That brings me to my questions. The Government have yet to detail how they will introduce legislation to move from freezing Russian assets to seizing Russian assets. Will the UK Government follow the lead of the Dutch Parliament, for example, by setting up a trust fund based on seized money from Russia and Russian oligarchs to fund the Prime Minister’s proposed plan to help rebuild Ukraine? How do the UK and its partners plan to bring onboard other Governments who have perhaps been less forthright in supporting Ukraine to date, and how do we plan to rally increased financial support around the world for Ukraine?

[Leo Docherty]

I am grateful to the hon. Member for his questions, his supportive comments, and his welcome of the $3 billion-worth of loan guarantees, which we think will make a significant difference. He asked a pertinent question about legislation to make provision for freezing versus seizing. We are still looking at that. We are looking at a robust legal path, and of course in our considerations we will look at the courses of action of other nations. He also asked what efforts we are making to support other countries. Clearly we are very energetic in the provision of lethal aid and our diplomacy therein, but yesterday and today at the conference showed that our ability to convene and to mobilise global capital —the City of London being a major global financial centre—is hugely important. That effort to inject capital to rebuild the Ukrainian economy will be equally as important as our resolute support for its military effort.