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14 May 2024 - Are the UK’s Russian financial sanctions working? - Oral evidence

Committee Treasury Committee
Inquiry Are the UK’s Russian financial sanctions working?

Tuesday 14 May 2024

Start times: 10:00am (private) 10:15am (public)


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Russian financial sanctions inquiry to hear from Bill Browder and industry experts 

The second session of the Treasury Committee’s inquiry into the UK’s financial sanctions against Russia will take place on Tuesday morning.

Meeting details

At 10:15am: Oral evidence
Inquiry Are the UK’s Russian financial sanctions working?
CEO at Hermitage Capital Management, and Head at Global Magnitsky Justice Campaign
At 11:00am: Oral evidence
Inquiry Are the UK’s Russian financial sanctions working?
Head of Financial Crime and Compliance at Lloyds of London
Head of Geopolitics and Co-Founder at Energy Aspects
Legal Director at Lloyd’s Market Association

The session will be split into two panels. First, MPs will question the Head of the Global Magnitsky Justice Campaign, Bill Browder. Mr Browder was instrumental in the creation of the Magnitsky Act in the USA, which led to targeted visa bans and asset freezes on Russian human rights abusers and corrupt officials.

This will then be immediately followed by a second panel consisting of Emma Hardaker and Richard Bronze. Mrs Hardaker is the Head of Financial Crime and Compliance at Lloyds of London while Mr Bronze is Head of Geopolitics at the data firm, Energy Aspects.

MPs are likely to probe Mr Browder for his views on the effectiveness of the UK’s legislation for sanctioning individuals and entities, particularly when compared to the US Magnitsky Act.

Mrs Hardaker and Mr Bronze may face questions from MPs on the extent to which measures like the Oil Price Cap are working and what more the insurance industry could be doing to make sure sanctions work effectively.

Following the recent decision by the European Union to seize Russian assets and allocate the funds to Ukraine, the Committee may seek to get the witnesses views on whether a similar approach could be adopted in the United Kingdom.

Location

The Thatcher Room, Portcullis House

How to attend