Monica Harding

I thank the Minister for advance sight of his statement. Most Members of this House recognise that Vladimir Putin has no interest in securing a just peace for Ukraine. The only peace he will accept is one that carves up Ukraine and leaves it defenceless against future Russian invasion. I welcome the steps that the Government have taken to apply more pressure on Putin, and I encourage Ministers to go further. As the Minister has pointed out, Putin’s oil profits are still propping up his war machine. They will continue to serve as a lifeline to the Russian economy until the UK, together with our international partners, turns the screw more tightly. Has the Minister considered the Liberal Democrats’ call to work with G7 partners to lower the oil price cap to $30 a barrel, which could cut more than a third off Putin’s oil profits? Donald Trump has become another vital lifeline for Vladimir Putin, as he remains fixated on rewarding the Kremlin’s illegal invasion by pressuring Ukraine into giving up unconquered land in the Donbas. Reports now suggest that Trump is trying to block the UK and Europe from seizing frozen Russian assets, despite the transformative leverage that they could give Ukraine by funding new weapons. Can the Minister confirm that the Government will not allow Trump to block efforts to seize those assets? Can he confirm whether the Government will seize the £30 billion-worth of assets in this country, which estimates suggest could fund half of Ukraine’s military budget for 2026?