Ukraine

Tom Tugendhat Excerpts

Tuesday 25th January 2022 Commons Chamber

[The Prime Minister]

Again, I thank the right hon. Gentleman and echo many of his sentiments. He is completely right to say that we should pursue every possible diplomatic avenue, in every appropriate forum; whether it is the NATO-Russia Council, the UN, the OSCE, the G7 or the Normandy Format, we must follow every avenue. He is right to press on what we are doing to track “dirty Russian money”, for want of a better expression. That is why we have the unexplained wealth orders and why we are bringing in measures to have a register of beneficial interests.

The right hon. Gentleman asks about SWIFT and financial transactions across the world, and there is no doubt that that would be a very potent weapon. I am afraid it can only really be deployed with the assistance of the United States—though we are in discussions about that.

The House needs to understand that one of the big issues we all face in dealing with Ukraine and with Russia is the heavy dependence, of our European friends in particular, on Russian gas. It was clear in the conversations last night that in this era of high gas prices we are bumping up against that reality. The job of our diplomacy now is to persuade and encourage our friends to go as far as they can to sort this out and to come up with a tough package of economic sanctions, because that is what the situation requires.

[Tom Tugendhat (Tonbridge and Malling) (Con)]

My right hon. Friend will recall that when he was Foreign Secretary the Foreign Affairs Committee published a report entitled “Moscow’s Gold”, which was about dirty Russian money flowing through our system and the call for us to have various registers not only of ownership but of foreign agents operating within our system. We have had a reminder only a week ago of why that is so important. Will he tell me what he is doing to work with partners across Europe to make sure that we stand together and do not just act as a voice outside the Kremlin, but make sure that Putin’s acolytes, who have profited from his kleptocratic regime, act as voices inside the Kremlin telling him what he is risking? The impressive work that the Defence Secretary has done in helping to support our Ukrainian friends could be undermined if the Kremlin does not listen to the very real danger it faces today.

[The Prime Minister]

It is absolutely right that the best way to get attention in the Kremlin and in Moscow generally is to have sanctions that are directed at the individual—like Magnitsky sanctions, for instance; that is what we will be coming forward with—as well as sanctions directed at companies that are of crucial strategic Russian interest.