Emily Thornberry

I begin by publicly welcoming the Foreign Secretary to her new post, and by echoing her comments about the previous Foreign Secretary. I also welcome her commitment to finally using the Russian frozen assets. I hope that the situation will be resolved soon, because those assets are needed for the defence and reconstruction of Ukraine. I am pleased to see that the Foreign Secretary is going to take further advantage of Britain’s unique sanctions regime by extending it against Russian individuals and companies, but she knows—perhaps better than most, given her previous experience—that a regime is only as good as its enforcement, and there are times when doors need to be kicked down. It worries me that officials from the Office of Financial Sanctions Implementation told the Treasury Committee a year ago that they had issued only one £15,000 fine against a British business for engaging with a sanctioned individual. How many British businesses have faced financial penalties for direct or indirect breaches of sanctions on Russia or the Russian state since then, and what has been the value of those fines?