Commons Sense

House of Commons · Written Ministerial Statement

Ministry of Defence Financial Update

16 March 2022 · Ministry of Defence

Proposed by Ben Wallace Con Wyre and Preston North

Defence

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

View on Parliament.uk

At a glance

Key points

  • Mr Ben Wallace is addressing the payment of 393.8 million to discharge a debt owed by International Military Services Limited to the Iranian government.
  • The payment is intended to meet international obligations while complying with UK sanctions and anti-money laundering laws.
  • The funds will be used to ensure that resources are directed towards appropriate channels, such as for humanitarian goods.

Issue summary

Mr Ben Wallace is addressing the payment of £393.8 million to discharge a debt owed by International Military Services Limited (IMS) to the Iranian government.

Action requested

The payment reflects the UK Government’s commitment to meet international obligations while adhering to sanctions and anti-money laundering legislation to ensure funds are used appropriately, such as for humanitarian goods.

Key facts

  • £393.8 million authorised on Thursday 10th March 2022.
  • Debt owed by International Military Services Limited (IMS) to the Iranian government due to contracts signed before the revolution.
  • Payment of debt is in accordance with applicable sanctions and anti-money laundering legislation.
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