Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of using the full value of frozen Russian assets to support Ukraine.

Addressing Ukraine’s financing needs is vital for ensuring Ukraine can continue to defend itself against Russian aggression. On 1 October, the Chancellor alongside her G7 Finance Minister counterparts committed to developing options for using the full value of Russian sovereign assets immobilised in G7 jurisdictions.

On 10 October the Prime Minister confirmed that the UK, France and Germany were ready to progress towards using immobilised Russian sovereign assets to support Ukraine’s armed forces and thus bring Russia to the negotiation table. The UK is determined to make progress on this issue at pace and will continue to work with G7 partners to develop options that are in line with international law.