Welcomed the support from Ukrainian MPs urging not freezing but seizing Russian assets. Raised concerns about sanctioned individuals moving money around into trusts for their children to evade sanctions.

Emphasised the urgent need for bold action and highlighted a letter from 45 Ukrainian MPs supporting asset seizure over freezing, urging the Government to act. Also raised the example of Canada's actions in pursuing forfeiture of Roman Abramovich’s assets.

Advocated for strengthening the Economic Crime and Corporate Transparency Bill to require sanctioned individuals to disclose assets owned six months prior to designation, preventing evasion by oligarchs like Roman Abramovich.

Agreed with proposals to repurpose Russian frozen state assets for Ukraine's reconstruction. Suggested pursuing the forfeiture of US$26 million from Roman Abramovich’s holding and urged the proscription of the Wagner Group as a terrorist organisation.

Called for urgent action to repurpose state assets for rebuilding Ukraine, noting that the Government had not yet done so since July despite considering it earlier. Emphasised the importance of aid and reconstruction in areas previously held by Russia.

Expressed frustration over enforcement of sanctions, highlighting that only two firms had been fined for breaching them, urging stricter measures to combat sanctions busting.

Critiqued the Government's issuance of 'general licences' that allow sanctioned individuals carte blanche for spending in certain categories, calling for transparency on these frameworks.

Suggested learning from legal processes used during the Iraq war to use Russian assets for Ukraine's reconstruction and proposed targeting law firms and accountants aiding oligarchs in moving funds before sanctions apply.

Asked whether it is important to involve the IMF and World Bank in the London reconstruction conference.

Asked if there is a preferred option for seizing Russian state assets versus private assets, expressed concerns about legal precedents for seizing oligarchs' assets.

Congratulates Sir Iain Duncan Smith for raising important issues. Estimates that reconstruction costs in Ukraine will reach $1 trillion and emphasises the need to make Russia pay through reparations, mentioning precedents such as the Paris agreement on reparation after WWII and the UN compensation fund established for Kuwait. Discusses legal processes including a special tribunal for prosecuting aggression and asset seizures.

Intervenes to emphasise that state assets can be addressed immediately, not just private ones. Highlights the need for reconstruction in liberated areas now, not after the war ends.

Discusses billions of sanctioned Russian assets frozen in UK banks (£26 billion). Urges immediate repurposing of these assets for military and humanitarian assistance to support Ukraine now rather than waiting until after the war. Advocates for strengthening the Economic Crime and Corporate Transparency Bill to better track down hidden oligarch assets.

The war in Ukraine must see the nation emerge victorious, but there is a gap regarding how to finance reconstruction. The burden should not fall solely on western taxpayers as estimates are very high at around $750 billion. Russia must pay for its actions by having its assets seized globally and repurposed towards Ukraine's reconstruction. Canada has started seizing frozen Russian assets, which the UK should emulate to avoid moral dilemmas and maintain unity with allies.

Supporting the ten-minute rule Bill for reclaiming frozen Russian assets in the UK for Ukraine's reconstruction. Emphasises the need for significant investment in rebuilding cities, infrastructure, and demining efforts. Advocates for strengthening the Economic Crime and Corporate Transparency Bill to prevent money laundering and economic crime. Criticises the use of Scottish limited partnerships (SLPs) for hiding wealth, citing examples where SLPs were used by sanctioned individuals to evade sanctions.

The right hon. Member discussed three main areas: sanctions, asset seizure, and who pays for Ukraine's reconstruction. He argued that the current sanctions regime is not comprehensive enough compared to previous regimes against Iran, highlighting concerns about sanctions evasion in the UK and abroad. He emphasised the need to track down enablers in the City of London facilitating sanctions busting, and called for stricter measures on seizing assets from sanctioned individuals and state assets. Additionally, he underlined that Ukraine's allies should fund reconstruction costs through Russian assets rather than imposing financial burdens on Ukrainian citizens.

Supports the motion for a Marshall fund to aid Ukraine's reconstruction. Emphasises the need for greater financial transparency in the UK’s financial sector due to dirty money issues. Urges the Minister to take stronger action on the issue of Russian assets being exploited through loopholes in the system, referencing examples from Estonia, Canada, and Switzerland. Also highlights the role of a properly resourced domestic enforcement mechanism as seen with the Guardia di Finanza in Italy.

The Opposition supports the Government on expanding sanctions but expresses serious concerns about the pace of action, gaps in designations and enforcement, and reluctance to repurpose frozen Russian state assets. The damage to Ukraine's infrastructure is estimated at $137.8 billion by Kyiv School of Economics while World Bank suggests reconstruction costs ranging from $525 billion to $630 billion. Doughty highlights the need for clearing mines and unexploded ordnance before reconstruction can begin, suggesting it would take over 30 years with current efforts. He calls for seizing Russian assets frozen in the UK (£26 billion) for Ukraine's recovery and criticises the lack of concrete action by the Government on this matter. Doughty also points out that other nations like the US, EU, and Canada are moving forward while the UK lags behind.

The UK has sanctioned more than 1,500 individuals and entities with a net worth of $145 billion. Over £18 billion-worth of Russian assets have been frozen. Trade measures led to a 99% reduction in imports from Russia and a 77% reduction in exports to Russia. The UK will continue working at the UN for asset seizure, supporting Ukraine’s military defence and reconstruction efforts.

Asked about the quantum of sanctions imposed on Russia by the UK.

Commented on the proscription of the Wagner Group, but details are noted and not disclosed due to confidentiality.

Highlighted Canada's efforts in testing seizure proposals for Russian assets.

Asked about the effectiveness of sanctions against the Wagner Group, noting a Financial Times report that $250 million has been channelled through sanctions evasion.

Expressed concern over individual deals on releasing assets which could weaken the wall of sanctions and harm Ukraine's interests.

Asked for publication of a list detailing licences, exemptions granted under sanctions regime, enforcement actions taken, and monetary value delivered by these measures.

The debate highlighted the need for increased sanctions enforcement and asset seizure from both government and private sectors to aid Ukraine. The proposal aims to use seized assets for reconstruction, prosecution of war crimes, and ongoing support until reparations are paid and Ukraine is rebuilt.