Yes. I am going to make progress, because some of the points raised in interventions will be covered in my speech. I do recognise the huge level of interest in the House from right hon. and hon. Members, and this will address a number of points raised.
Fourthly, we will use Britain’s economic and financial might to hit Russia’s economy hard. The new sanctions regime that the statutory instrument brings into place is a vital part of that, but it is not limited to that. The legislation follows the made affirmative procedure as set out in section 55(3) of the Sanctions and Anti-Money Laundering Act 2018. It amends the Russia (Sanctions) (EU Exit) Regulations 2019 and allows the Government to impose sanctions on a much broader range of individuals and businesses who are, or have been involved in
“obtaining a benefit from or supporting the Government of Russia”,
which includes those
“carrying on business as a Government of Russia-affiliated entity…carrying on business of economic significance to the Government of Russia…carrying on business in a sector of strategic significance to the Government of Russia”
and those who own, control or act as a director, trustee or equivalent of any of those entities. That is a huge scope of individuals and entities.