Russia: Sanctions - Question

Part of the debate – in the House of Lords at 3:24 pm on 21 May 2024.

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Photo of Lord Cameron of Chipping Norton Lord Cameron of Chipping Norton Foreign Secretary, Foreign, Commonwealth and Development Office 3:24, 21 May 2024

We have taken real action: we have sanctioned 2,000 individuals and entities under the Russia sanctions regime, over 1,700 of which were sanctioned since the full-scale invasion. We have taken huge steps. The point I would make is that there is a difference in scale, even with the riches of Abramovich—and we will come on to that—between the individuals who we have sanctioned and the Russian sovereign assets that are invested in things such as Euroclear and central banks in Europe and elsewhere. There is a difference in scale, and that is why the windfall interest from them is so important. On the issue of Abramovich, we are doing everything we can to try to make sure that this massive amount of money, which is in trust, can start flowing into Ukraine for the benefit of Ukrainian people and Ukrainian charities. It is a complicated issue—I can go into more detail if the noble Lord would like—but we are working very hard on it.