Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an estimate of the amount of interest that has been accrued on frozen Russian assets seized by the UK Government.

UK Sanctions legislation does not provide powers to seize frozen assets. Assets owned or controlled by a designated person are frozen immediately by the person in possession or control of them. An asset freeze does not involve a change in ownership of the frozen funds or economic resources, nor are they transferred to HM Treasury, therefore no interest has been accrued by the UK Government on frozen Russian assets.