Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much tax he projects HM Treasury will collect on the interest accrued on Russian assets frozen in UK banks.

This information is not held centrally within government and would involve disproportionate costs to gather.

Please note that HM Treasury is not responsible for freezing assets, or for holding frozen assets. On the enactment of an asset freeze, the funds and economic resources are to be 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 confiscated or transferred to Office of Financial Sanctions Implementation for safekeeping. Any release of frozen assets can only be accomplished legally with a licence from Office of Financial Sanctions Implementation.