Proceeding contribution from Michael Ellis (Conservative) in the House of Commons on Tuesday, 1 March 2022. It occurred during Debates on delegated legislation on Sanctions.
Sanctions
I am going to make a little progress and then I will give way. Sanctions announced by the UK and our allies are already having an impact. Yesterday, the rouble dropped 40% of its value, before closing 25% down; central bank interest rates have more than doubled, from 9% to 20%; international businesses are quickly divesting, as we have been hearing in the media; and the rouble is now trading at about a quarter of what it was when Putin took power. That will have an impact on the institutions that prop Putin up and that prop his cronies up.
Secondary information
- Type
- Proceeding contribution
- Reference
- 709 c951
- Session
- 2021-22
- Chamber / Committee
- House of Commons chamber
- Subjects
- Banks Crown dependencies British overseas territories Legal profession Donors Financial services Insurance Export controls EU action Political parties Mortgages Loans Sovereignty Stocks and shares Shipping Sanctions Russia Ukraine Companies House Dual use goods and technologies Belarus Money markets Freezing of assets Unexplained wealth orders Scottish limited partnerships
- Legislation
- Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022
- Russia (Sanctions) (EU Exit) (Amendment) (No. 3) Regulations 2022
- Link
- View this Proceeding contribution on hansard.parliament.uk
Librarians' tools
- Timestamp
- 2022-04-01 16:56:39 +0100
- URI
- http://hansard.intranet.data.parliament.uk/Commons/2022-03-01/22030163000067
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://hansard.intranet.data.parliament.uk/Commons/2022-03-01/22030163000067
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://hansard.intranet.data.parliament.uk/Commons/2022-03-01/22030163000067