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G7

I am very grateful to the hon. Gentleman for continuing the cross-party unity. He is usually pretty on top of the details, but I just say to him that it is not the United States that has raised consistent concerns about sovereign assets. It is not the United States in this instance that is more exposed than others; it is actually in Europe. Belgian colleagues have found themselves more exposed, and German colleagues have previously been resistant on this issue, but there is of course a change of Administration coming in Germany, so we will see what their assessment is.

On those funds from Abramovich, which of course we want to use, I just say—and I should have said this to the right hon. Member for Witham (Priti Patel)—that we inherited this matter from the last Government. In two and a half years, no progress was made. I am frustrated with that lack of progress, and I am doing everything I can to reach a resolution. If we do not, I will have to consider all the tools available to Government. However, what I want at this stage is to be able to act quickly, given that the hon. Gentleman knows, I know and we all know that Ukraine needs those funds now. Therefore, working with other colleagues and Mr Abramovich’s lawyers, we urge action now.

I say to the hon. Gentleman that there was no discussion of Russia joining the G7—no discussion whatsoever. The G7 is a family of democratic nations committed to the rule of law. Russia under Putin has put itself way outside that club and that necessary partnership. I see no basis at the moment on which Russia could enter the G7, and indeed there would be other candidates way ahead of Russia were that to be the case.

I am delighted that the Lib Dems have a proposal for a rearmament bank, but I would just say to them that Ursula von der Leyen got there before them.