Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022

My Lords, I congratulate the Government on having gone further and faster than they had originally planned once the gravity of the situation became clear. Although this may be the largest ever package of sanctions from the UK, can the Minister explain to the House why there are so few individuals on our sanctions list compared with the EU’s? Why, in a particular spirit of generosity, are we allowing 18 months from when the legislation comes into effect for those who wish to sell their houses and get the proceeds out of the country to do so?