Question to the Foreign, Commonwealth & Development Office:

To ask Her Majesty's Government, further to the Written Answer by Lord Ahmad of Wimbledon on 30 May (HL266), what assessment they have made of whether frozen Russian assets released by a licence from the Treasury's Office of Financial Sanctions Implementation are likely to be redeployed for (1) humanitarian, and (2) reconstruction, purposes, in eastern Europe including Ukraine.

An asset freeze requires that all funds and economic resources belonging to, held or controlled by a designated person are frozen immediately by the person in possession or control of them. The release of frozen assets may be legally granted with a licence from the Treasury's Office of Financial Sanctions Implementation (OFSI) under specific circumstances and for specific purposes, as set out in the regulations. The UK along with our allies will continue to put more pressure on Putin's regime until he withdraws his troops and ends this unjust war. Nothing and no one is off the table.