Russian Oligarchs

Demand that Russia be sanctioned and that the UK and EU maintain their support for Ukraine

The House of Lords European Affairs Committee calls for the UK and EU to continue support for Ukraine, and sanctions on Russia, for as long as it takes to reverse Putin’s aggression in a report published today.


The investigation conducted from July to November of 2023 served as the basis for the report. There were 22 witnesses in all during the seven oral evidence sessions for the investigation.

The Report

The study looks at four main areas to determine how Russia’s invasion of Ukraine will affect UK-EU relations in the long run:

  • Collaboration on the sanctions imposed against Belarus and Russia;
  • EU defense ties with the UK;
  • The rebuilding of Ukraine, including the utilization of frozen assets for this purpose;
  • Long-term effects on the security and foreign policy relationship between the UK and EU.

Findings and recommendations

Support for Ukraine

  • The Committee urges the Government to continue working with its European partners in providing military aid to Ukraine for as long as it takes to reverse Russian aggression and commends the coordinated response of the UK of the EU and its Member States to Russian aggression against Ukraine.

Cooperation sanctions on Russia

  • The Committee is pleased that the US, UK, and EU sanctions are largely in line with one another. However, it expresses alarm at the mounting evidence that Russia has managed to evade sanctions, including by using uninsured shadow tanker fleets and third states, and it demands that the UK and its allies take swift action. The Government is urged by the Report to provide particular instances of the steps it is taking to implement UK sanctions regimes.

Sanctioned assets

  • The Committee finds it inexplicable that the assets are still frozen and that Russian businessman Roman Abramovich, who is under sanctions, has not fulfilled his pledge to use the money from the sale of Chelsea FC to support Ukraine. This is a bad reflection on Mr. Abramovich and the Government for not making a more solid commitment. The Committee requests that the Government swiftly resolve this impasse by using all legal means at its disposal to provide Ukraine with much-needed, long-overdue, and promised relief. Every penny of the funding ought to be used in areas under Ukrainian government control.

The UK-EU defence relationship

  • The Committee is pleased that the United Kingdom is now Ukraine’s second-largest source of military assistance. The government must collaborate with its allies to guarantee Ukraine’s continuous provision of adequate military assistance.
  • The Committee is worried that Europe could be seriously exposed if US support for Ukraine and European security in general were to decline in the future. The EU, the UK, and its member states ought to make sure they are ready for a situation where they might have to shoulder a larger portion of the responsibility.

Long-term implications

  • While acknowledging the Foreign Secretary’s confirmation that flexible ad hoc arrangements for cooperation with the EU on Ukraine have worked well, the Committee continues to favor more structured arrangements for forward-looking cooperation between the UK and the EU on longer-term challenges such as policy towards China. The Government should approach the EU with a view to establishing such cooperation on major foreign and security policy issues.

Key Points


  • The report was based on an investigation conducted from July to November 2023.
  • The investigation involved 22 witnesses and seven oral evidence sessions.

Key Areas of Study

  • Collaboration on sanctions against Belarus and Russia.
  • EU defense ties with the UK.
  • Rebuilding of Ukraine, including the use of frozen assets.
  • Long-term effects on the security and foreign policy relationship between the UK and EU.

Findings and Recommendations

  • Support for Ukraine: The Committee urges the UK to continue military aid to Ukraine to counter Russian aggression.
  • Cooperation on sanctions: The Committee expresses alarm at Russia’s evasion of sanctions.
  • Sanctioned assets: The Committee finds frozen assets and Russian businessman Roman Abramovich’s failure to use funds from Chelsea FC sale to support Ukraine.
  • UK-EU defence relationship: The Committee appreciates the UK’s role as Ukraine’s second-largest source of military assistance.
  • Long-term implications: The Committee advocates for more structured cooperation on long-term challenges, such as policy towards China.

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