Helen Maguire

I thank the Secretary of State for advance sight of his statement. Liberal Democrats welcome the new measures announced today to use the profits of frozen assets for Ukraine. That £2 billion will be of immense value to our Ukrainian allies as they seek to repel Putin’s illegal invasion, not least following the alarming news that 1,500 North Korean troops are currently being trained in Russia to fight in Ukraine, but we must go further, faster. Russia must not and cannot succeed. Some £22 billion in frozen assets remains locked up in our country. We urge the Government, as we have done for years, to seize those assets and repurpose them for Ukraine right away. Will the Secretary of State commit to doing so? Is he having conversations with our democratic partners to that effect? With the US elections fast approaching, it is deeply worrying that our commitment to our Ukrainian allies is uncertain. A second Trump presidency could have a devastating effect on the security of Europe and of Ukraine, so we urge the Government to seize these assets now so that we can support Ukraine come what may. We must lead with Europe on this. The EU countries between them have close to €20 billion-worth of frozen assets. Will the Secretary of State consider convening an urgent summit with European counterparts to begin that process? Does he agree that if the US cannot, Europe must?