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79578
star this property registered interest false more like this
star this property date less than 2014-07-23more like thismore than 2014-07-23
star this property answering body
Foreign and Commonwealth Office more like this
star this property answering dept id 16 more like this
star this property answering dept short name Foreign and Commonwealth Office more like this
star this property answering dept sort name Foreign and Commonwealth Office more like this
unstar this property hansard heading Russia more like this
star this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
unstar this property question text To ask Her Majesty’s Government what criteria they are using to assess the impact and effectiveness of current European Union sanctions on Russia. more like this
star this property tabling member printed
The Marquess of Lothian more like this
star this property uin HL1476 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-08-11more like thismore than 2014-08-11
star this property answer text We judge the impact and effectiveness of sanctions based on a range of economic and political factors. Sanctions are designed to impose a cost for Russia’s actions in Ukraine, deter further escalation of this crisis, and support the wider diplomatic effort. EU measures already announced have exacerbated negative trends in Russia’s economy; capital flight in the first half of 2014 was greater than for the whole of 2013; and we have seen a significant reduction in expected growth. Russian access to western financial markets will be severely constrained as lenders consider the risks of Russian exposure in the current climate. The strengthening of sanctions should signal clearly to the Russian leadership that their policy of trying to destabilise Ukraine will have a cost for the Russian economy. The EU’s measures have in-built review mechanisms. The sanctions implemented on 31 July are in force for one year, with a review of implementation after three months. more like this
star this property answering member printed Baroness Anelay of St Johns more like this
star this property question first answered
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3474
star this property label Biography information for Baroness Anelay of St Johns more like this
star this property tabling member
259
star this property label Biography information for The Marquess of Lothian more like this