Commons Sense

House of Commons · Ministers' Questions

Sanctions on Russia

Tuesday 6 September 2022 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 1 Not answered 0

Key points

  • UK sanctions are aimed at undermining Putin's war effort and inflicting economic cost on Russia.
  • The Government will continue to put pressure on Putin and his regime until Ukraine prevails, with nothing off the table.
  • Measures have been taken against 1,100 individuals, including 123 oligarchs with a global net worth of 130 billion.

Topics (select to filter)

Questions & Answers

Q1 John Lamont Con Berwickshire, Roxburgh and Selkirk
Ukraine Foreign Affairs
Context

The MP is inquiring about recent assessments regarding the effectiveness of UK sanctions against Russia.

Question

What recent assessment have you made of the impact of sanctions on the Russian economy?

Answer from Rehman Chishti

UK sanctions are aimed at undermining Putin's war effort, inflicting cost at scale, and demonstrating strong support for Ukraine. Our response is in lock-step with allies and has inflicted a significant economic cost to the Russian economy. The IMF predicts that by 2026 the Russian economy will be 16% smaller compared with pre-invasion trends.

Answered
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Q2 John Lamont Con Berwickshire, Roxburgh and Selkirk
Ukraine
Context

The MP is seeking further action from the Government to intensify sanctions on Russian leadership.

Question

Will the Government consider going further to ensure that additional pain is inflicted on President Putin and his cronies?

Answer from Rehman Chishti

We will continue to put pressure on Putin and his regime until Ukraine prevails, or Putin ends his war of choice. Nothing and no one is off the table. Although it is not appropriate to speculate on specific future designations, lest their impact is reduced.

Partly answered

Not addressed: Specific future designations

How: Not Appropriate To Speculate

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Q3 Chris Bryant Lab Rhondda and Ogmore
Ukraine Foreign Affairs
Context

The MP is concerned about the delay in establishing a fund to transfer funds from sanctioned entities like Roman Abramovich's bank account to Ukraine.

Question

Why is the Foreign Office taking so long to set up the fund to enable the money to be given to the people of Ukraine?

Answer from Rehman Chishti

Measures have been taken against 1,100 individuals, including 123 oligarchs with a global net worth of £130 billion; over 60% of Russia's central bank's foreign reserves have been frozen. That demonstrates our commitment to do everything we can.

Not addressed: Setting up the fund

How: Cannot Comment On Specific Cases

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