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UK Sanctions Regime: Russia and Belarus

09 November 2023

Lead MP

Andrew Mitchell

Debate Type

Ministerial Statement

Tags

UkraineEconomyScience & TechnologyBusiness & TradeBenefits & Welfare
Other Contributors: 5

At a Glance

Andrew Mitchell raised concerns about uk sanctions regime: russia and belarus in the House of Commons. A government minister responded. Other MPs also contributed.

How the Debate Unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said:

Government Statement

UkraineEconomyScience & TechnologyBusiness & TradeBenefits & Welfare
Government Statement
Sanctions are a critical tool in weakening Putin's war efforts and demonstrating our support for Ukraine. The UK has sanctioned over 1,800 individuals and entities since Russia's full-scale invasion, freezing more than £18 billion worth of Russian assets and over 60% of the central bank’s foreign reserves. This has led to a significant deficit in Russia's budget for 2022 and ongoing deficits in 2023 despite tax increases. The UK is also targeting those who facilitate sanctioned persons hiding their assets, closing loopholes, and implementing further sanctions like banning diamond imports and ending copper, aluminium, and nickel imports from Russia.

Shadow Comment

Stephen Doughty
Shadow Comment
The shadow emphasises the unity in standing with Ukraine but highlights serious concerns about the effectiveness of the sanctions regime. He cites revelations that a British company continued to ship semiconductors to Russia, impacting military production. Doughty questions the existence of loopholes allowing exports and imports into UK markets for materials used in military items or indirect transfers. He also points out issues with enforcement, noting only one financial penalty issued since February 2022, a stark contrast to other countries like the US.
Assessment & feedback
Summary accuracy

About House of Commons Debates

House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.