Part of the debate – in the House of Commons at 5:13 pm on 28th March 2022.

Alert me about debates like this

Photo of Elizabeth Truss Elizabeth Truss Minister for Women and Equalities, Foreign Secretary, Foreign, Commonwealth and Development Office 5:13 pm, 28th March 2022

On sanctions, it is worth saying that we are already aligned with our allies on key areas of sanctions, including banning Russian state and private companies from capital markets and stopping the Russian Government from raising sovereign debt. On oligarchs, we have now sanctioned more oligarchs than the EU or the US. We have also sanctioned more banks than the EU.

What we want to achieve next week is a levelling up across all the sanction areas. Some of that will mean other countries following what the UK has already done—for example, we have banned Russian vessels from UK ports, which I remember discussing a few weeks ago with the hon. Gentleman—and then we all need to go further. I am clear that we should all go further in terms of SWIFT; we want to see a complete ban on the Russians’ use of the SWIFT system.

We need to keep going with our allies, however, and that is the work that we are doing—putting pressure on and working with our allies. In the case of oil and gas, many European countries are heavily dependent on Russian gas and they need to find alternatives. We are helping and working on that, as is the United States, so this is very much a team effort.

On the Homes for Ukraine scheme, my right hon. Friend the Secretary of State for Levelling Up, Housing and Communities will be issuing new information about that later this week. I am sure that the hon. Gentleman will be keen to attend that session to hear more details.