Commons Sense

House of Commons · Ministers' Questions

Trade with Ukraine

Thursday 23 March 2023 · 4 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 2 Not answered 0

Key points

  • Supporting Ukraine is a Government priority, including the signing of a UK-Ukraine digital trade agreement.
  • A guide to doing business in Ukraine was published, covering market overview, reconstruction needs, financing routes, and trading agreements.
  • The UK has imposed severe economic sanctions on Russia, impacting trade and freezing Russian state assets.

Topics (select to filter)

Questions & Answers

Q1 Jack Lopresti Con
Ukraine Business & Trade
Context

There is a focus on supporting Ukrainian businesses through increased trade.

Question

Whether her Department is taking steps to help increase trade with Ukrainian businesses. Supporting Ukraine is a Government priority.

Answer from Kemi Badenoch

Supporting Ukraine is a Government priority. On Monday, I signed the UK-Ukraine digital trade agreement, which guarantees access to the UK's financial services sector for their reconstruction efforts.

Answered
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Q2 Jack Lopresti Con
Ukraine Business & Trade
Context

A guide for doing business in Ukraine has been published by the Department.

Question

My right hon. Friend's Department has this week published a guide to doing business in Ukraine. Can she outline what this industry guidance sets out and how businesses can get further information if they need it?

Answer from Kemi Badenoch

I am grateful to my hon. Friend for highlighting the guide to doing business in Ukraine that my Department published. It provides an overview of the Ukrainian market, including reconstruction needs, financing routes, trading agreements between our countries, and logistical guidance.

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Q3 Martin Docherty SNP
Scotland Foreign Affairs
Context

Concerns about the potential for Russian entities to use Scottish limited partnerships.

Question

Does the Secretary of State agree that there is still time to improve and strengthen the Economic Crime and Corporate Transparency Bill to limit opportunities for the Russian Federation to access Scottish limited partnerships?

Answer from Kemi Badenoch

In co-ordination with our allies, we have implemented severe economic sanctions on Russia. If the hon. Gentleman will write to me with more detail about what he is referring to, I can look into it.

Partly answered

Not addressed: The specific ask for improving and strengthening the bill was not directly addressed.

How: Will Look Into It If Written To

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Q4 Nia Griffith Lab Llanelli
Ukraine
Context

Worries about the lack of a clear plan for seizing Russian state assets to aid Ukraine's reconstruction.

Question

With World Bank estimates of $630 billion in reconstruction costs, and no clear Government plan on seizing Russian state assets, can the Secretary of State tell us when the Government will set out how they will seize frozen Russian state assets?

Answer from Kemi Badenoch

We have imposed severe economic sanctions on Russia, sanctioning £20 billion of UK-Russia goods trade from 2021 and reducing UK imports and exports by significant percentages.

Partly answered

Not addressed: The specific ask for a plan to seize Russian state assets was not directly addressed.

How: We Will Do All We Can

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