Processed Russian Oil Products: Sanctions Debate
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Sammy Wilson
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Processed Russian Oil Products: Sanctions
Sammy Wilson Excerpts(3 weeks, 2 days ago)
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Chris Bryant
I completely agree with my hon. Friend’s comments. Notwithstanding his point that every time the price of oil around the world goes up, that is a benefit to Putin—that is one of the problems and ironies of the situation in the middle east at the moment—I would also point out that Russia’s economy is stagnating because of the sanctions we have imposed. Growth has slowed to a crawl; this month, Russia slashed its economic growth forecast again, and international sanctions have deprived Russia of at least $450 billion since February 2022, which is the equivalent of four years of funding for Putin’s illegal war. We need to keep that up. It is tough, but we need to do so to ensure that he does not have victory.
Sammy Wilson (East Antrim) (DUP)
No matter how the Minister tries to confuse the issue by talking about the situation up until now and the new arrangements, which are meant to tighten up sanctions today, the fact remains that we are now granting permits for Russian oil to come into the United Kingdom. He may justify that, as he has done on a number of occasions during this discussion, by saying that this is only for the short term. But does he not recognise that, as long as we stop exploiting our own resources and taxing our own oil refineries, we will be dependent on Russian oil, and we will be financing Putin’s war?
Chris Bryant
I will try again. The point I am making is not the point the right hon. Gentleman thinks I am making. The point I am making is that, up until now, we have been doing precisely what he said. We have been allowing Russian oil processed in other countries to come into the UK without any impediment whatsoever. That is precisely what we are putting an end to. If he had stood up last week, the week before that, the week before that, or the week before that, and called for us to put an end to it, I would have had more time for the comments he just made.