The Minister of State, Ministry of Defence () (Con): ...We will also be
introducing new powers to ban Russian state and private companies
from raising funds in the UK, as well as stopping them dealing in
securities and loans. Russian nationals will find that there are
limits to the amount of money that they can deposit in UK bank
accounts. The Russian puppet state, Belarus, will also face
sanctions. To further constrain the Kremlin, we will be placing
asset freezes on hundreds more entities and individuals,
including all major manufacturers that support President Putin’s
war machine. Russian airline Aeroflot is now banned from the UK
and there will be legislation to ban export of all dual-use items
to Russia, including a range of high-end, critical technological
equipment and components in sectors including electronics,
telecommunications, and aerospace. Russian oligarchs will also
find that there is nowhere to hide. A new kleptocracy cell in
the National Crime
Agency will be targeting sanctions evasion and
corrupt Russian assets hidden in the UK. In relation to SWIFT, as
the Prime Minister has said, nothing is off the table. We are
working with international partners....
(LD):...Speaking of
networks—I talked about family and associates—we also have to
bring to book the enablers of money laundering, including the
legal firms, the accountants, the banks, the property agents and
the developers. That network is laced with respectable names, and
many are very well connected throughout the current political
establishment. Can the Government tell me: will the new
kleptocrat unit in the National Crime
Agency also be tackling these enablers and tackling
them vigorously? If this unit is to be more than a gimmick, it
has to be properly staffed, it has to have strategy and goals, it
has to have priorities, and I am told that none of these is
currently in place—if I am wrong, I would appreciate the comments
of the Minister. To empower this unit to go after the enablers,
will the Government commit immediately to introduce “failure to
prevent” legislation? We have templates from other Bills—the
drafting would be a matter of hours...
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