Labour calls for Government plan on use of Russian assets for Ukraine recovery

The Government should bring forward draft legislation that would allow seized Russian assets to be used for the reconstruction of Ukraine.

Ukraine’s President Volodymyr Zelensky delivers a speech via videolink at the opening session on the first day of the Ukraine Recovery Conference in London (Henry Nicholls/PA) (PA Wire)

The Government should bring forward draft legislation after the summer break that would allow sanctioned Russian assets to be used for the reconstruction of Ukraine, Labour has said.

The party will use a Commons opposition day motion that would call on ministers to “present a Bill before this House within 90 days to allow frozen Russian state assets held in the UK to be repurposed for Ukraine’s recovery”.

The debate comes the week after London played host to the UK Recovery Conference, which was attended by officials, dignitaries and ministers from around the world and saw discussion of how to secure and support the reconstruction of Ukraine’s economy and society.

World leaders have backed the principle of Russia being forced to pay for the destruction caused by its invasion of Ukraine.

Labour is urging the Government to use the summer recess to bring forward a more detailed plan on how that principle can be put into practice.

The European Commission is considering how frozen and immobilised Russian assets could be used to help fund Ukraine’s recovery, but such plans are not straightforward and could prove legally complex.

Shadow foreign secretary David Lammy said: “Sixteen months after Putin’s invasion, Ukraine has been left with mass graves, cities turned to rubble and vital infrastructure destroyed.

“It is only right that the Russian state is made to pay for the destruction it has created.

“The UK has been united in its support of Ukraine and last week provided leadership by hosting the Ukraine Reconstruction Conference in London.

“The next stage of our support must be to put in place the laws needed to seize Russian state assets to pay for Ukraine’s recovery.”