Ukraine: Our shared values are the way that we respond

8th February 2022

Kevin Brennan Labour, Cardiff West
I think all of us, particularly those of us who were Members of the House in September 2001, realise that a page has been turned in world history and a new chapter has begun that will resonate not just now but for many years. The important thing is our shared values, and the way that we respond in the months and years to come. On the specifics of the Foreign Secretary’s statement, she said that over 50% of Russian trade is denominated in dollars or sterling, but so that the House can understand the impact of our Government’s actions, how much of Russian trade is denominated in sterling?

Elizabeth Truss Minister for Women and Equalities, Foreign Secretary, Foreign, Commonwealth and Development Office
I do not have that figure on me, but I can get it to the hon. Gentleman. The point that I was making is that the action that we have taken on clearing is in conjunction with the United States, so between us we are able to cover 50% of that trade.