James MacCleary

James MacCleary

Liberal Democrat — Lewes

Speaking in the House of Commons on 6 January 2025

Debate

Frozen Russian Assets: Ukraine

Contribution

I start by thanking my hon. Friend the Member for Tunbridge Wells (Mike Martin) for securing this valuable and important debate. Russia’s illegal war in Ukraine is not just an assault on one nation. It is a direct challenge to the values that unite Europe: democracy, sovereignty, and the rule of law. Europe must respond with strength and unity, and the UK has a unique role to play in leading the charge. Russia’s malign influence extends far beyond Ukraine. From interference in democratic elections across Europe to spreading disinformation, the Kremlin has shown its commitment to undermining the democratic values that bind our continent. This is not just Ukraine’s fight; it is a fight for the integrity of all our democracies. Our defence sector is among the largest in Europe, and our international influence remains significant. When I meet European colleagues, one message is clear: they want the UK to lead. This is a moment for the UK to step up and demonstrate the leadership that has long defined our place in Europe—even though we are, for now, outside the European Union. Seizing frozen Russian assets and repurposing them is one of the most effective ways to support Ukraine. These funds are not just financial resources; they are symbols of aggression that must become instruments of justice. Putin’s grasp on power depends on corruption and control; by seizing and repurposing these assets, we can weaken his grip. Our allies have shown the way. Canada amended its Special Economic Measures Act to allow the seizure of Russian assets for grave breaches of international peace, and the United States passed the REPO—Rebuilding Economic Prosperity and Opportunity for Ukrainians—Act to transfer Russian sovereign assets directly to Ukraine. These steps provide clear and workable models for the UK and Europe to adopt.

More from James MacCleary

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

For James MacCleary's full parliamentary record including voting history, expenses and all other contributions, see the James MacCleary report card.