Ukraine

Stewart Hosie Excerpts

Tuesday 22nd February 2022 Commons Chamber

[The Prime Minister]

I thank my hon. Friend very much; he is absolutely right to draw attention to defence spending. It is great that the German Chancellor also now sees the importance of that. For a long time, my hon. Friend and I have been campaigning for Germany to shoulder more of the cost of defence in Europe, and that is a good thing. We have seen massive increases in our defence spending, but we want to make sure it is targeted on things such as tackling cyber and disinformation and all the modern forms of warfare in which Putin specialises.

[Stewart Hosie (Dundee East) (SNP)]

I welcome the sanctions announced today on the five banks and the three named individuals. However, the Prime Minister will be well aware that there are many, many oligarchs who would, at face value, have huge wealth and huge assets in their own names, but that that wealth and those assets are absolutely in the gift of the Russian state and at the beck and call of the Russian state. Will he confirm that the sanctions we will be discussing and agreeing later today intend to ensure that those trusted custodians of Russian state money are able to be sanctioned in the way the three individuals named today are being sanctioned?

[The Prime Minister]

Yes. We will be able to sanction oligarchs, associates of President Putin and companies of strategic importance to the Kremlin.