Context
There has been a growing concern about the effectiveness of sanctions against Russia and Belarus in economic terms, as well as their impact on businesses.
Question
What assessment do you have of the impact of sanctions on (a) Russia and (b) Belarus? The government's programme fails to recognise the severe implications for organisations across Q15. I am concerned about this oversight.
Answer from Anne-Marie Trevelyan
Sanctions have isolated Russia and Belarus from western financial markets and services, undermining their long-term growth, starving Russia's military of key western components and technology and restricting Russia's ability to fight a modern war. The Government remain committed to increasing pressure on Russia and Belarus and have recently introduced further sanctions targeting Putin and Lukashenko's regimes.
Not addressed: The specific economic impact on businesses was not addressed, focusing more on general assessments of sanctions' effectiveness.
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