The Foreign Affairs Committee supports the legislation, recognising its importance in tackling money and profit going into Russian coffers and violations of maritime law. The committee appreciates the Government's leadership which has enabled Ukraine to continue standing and fighting.

The speaker is concerned about certain individuals in the House of Lords who may be facilitating Russian money, particularly mentioning an article in The Times regarding a hereditary peer. He urges for action to address this issue carefully.

Labour supports the necessary steps being taken in the statutory instrument. The party has consistently supported expanding the UK sanctions regime, particularly against Russia since its invasion of Ukraine. However, Labour has been critical when Ministers have not acted sufficiently or quickly enough to hold global actors accountable. Labour aims to work with partners and allies to counter threats posed by various actors worldwide, ensure proper enforcement, and seize Russian state assets for Ukrainian reconstruction. The speaker raises concerns about the enforcement of monetary penalties under UK sanctions and requests clarification on the issuance of licences granting dispensation from provisions. She also supports measures regarding HMRC's mandate on Belarus, new reporting obligations, prohibitions on export items critical to Russian weapon systems, and bans on ancillary services. She questions why prohibition measures have taken so long and expresses hope for clarity on her concerns.

Webb thanked his predecessors and supporters, highlighted the rich history of Blackpool South, and expressed gratitude towards teachers who inspired him during his youth. He emphasised the importance of public services like the NHS and the need for economic stability to address issues such as poverty, crime, mental health, and low life expectancy in Blackpool South. Webb pledged to work tirelessly for community recovery beyond tourism and to ensure progress is possible for everyone under a Labour Government.

Kirsty Blackman congratulated Chris Webb on his maiden speech and offered her thanks to departing colleagues. She addressed concerns over Scottish limited partnerships being used for money laundering, stressing the need for increased transparency in sanctions regimes and beneficial ownership. She supported the regulations but called for more stringent action against individuals sanctioned under these measures.