One problem is that, as my hon. Friend the Member for Preston (Mark Hendrick) has been saying, it is not clear that small changes in the income of particular individuals will matter very much to President Putin. Edward Lucas said that in his evidence to the Foreign Affairs Committee. There is also a problem of corruption, which is not helped by the Tory party taking a lot of money from Russian and Ukrainian oligarchs.
We need to move to a political process to strengthen the political dialogue. On Monday, the Prime Minister agreed that the Russians had legitimate interests in the area, especially in seeing that the Russian minorities are well treated and protected.
The Foreign Secretary talked about effective international monitoring. I am not clear whether he meant the Organisation for Security and Co-operation in Europe or a UN-sponsored plebiscite. We need to know more clearly what the Foreign Office has in mind. What is absolutely clear is that the former British ambassador to Moscow, Tony Brenton, was right when he said that we should stop shouting and start talking.
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