May 2026

I thank my hon. Friend for her contribution, and I hope that we can discuss it during the review.

My hon. Friend makes important points about access to banking services across a number of different areas. I am grateful to him, and I hope we can continue to discuss this issue. We now have very little time left—

I will.

I disagree—I think that the hon. Gentleman goes too far in his criticism of the criteria. It is important that the Government continue to monitor how these banking hubs are assessed and the need for them. I will close by talking about—

I am going to make a little bit of progress now, because we do not have much time. Despite the important progress that we have heard this evening about the number of banking hubs that have been set up—a commitment to 275 with 235 already delivered—it would be premature to conclude that all people and communities are receiving support with their banking needs. Decisions to close bank branches are ultimately commercial decisions taken by banks and building societies, and reflect some of the change

I have to finish now. I welcome the commitments that firms have made to maintain or improve their existing branches, recognising just how important they are to their customers. There are already some rules and obligations for firms that are changing their branch networks, which they must take very seriously. All Members should know that those decisions must be taken with regard to the impact on customers and communities. I underline that banks and building societies are expected to put appropria

I am not going to give way. I fully support those powers, and expect the FCA to use them where necessary. However, the Government are concerned that although firms have been reshaping their branch networks in response to customer demand, this may be creating particular challenges, which is why we have brought forward the review. The Government recognise how important it is that communities such as those represented by the hon. Member for Moray West, Nairn and Strathspey and many other Members fr

(Urgent Question): To ask the Secretary of State for Business and Trade to make a statement regarding the Government’s decision to issue general trade licences for sanctioned processed oil products prohibited under the Russia (Sanctions) (EU Exit) Regulations 2019.

In their 18th packet of sanctions in January this year, His Majesty’s Government prohibited the import of Russian petroleum products produced in third countries from Russian oil, obliging importers to provide proof of the origin of oil used in petroleum product production. Yet yesterday evening at 7 pm, while we in this very Chamber were debating the future of our own North sea oil and gas industry and Labour MPs were being whipped to vote against new oil and gas licences in the North sea, the G

I thought that the Liberal Democrats were in favour of moving towards renewables. Sorry, I may have misunderstood the question; if so, the hon. Member may wish to grab me afterwards. As I said, the problem about the headlines this morning was that some journalists saw half of the story, and not the whole story. That is entirely down to me, and is my fault.

I listened very carefully to the Minister’s explanation about what exactly we are doing, and I echo the comments from colleagues across the House about the failure to communicate this effectively in the last 24 hours. I have had very upset constituents getting in touch with me about this issue. One report—from Bloomberg—seems to indicate that there is briefing and counter-briefing across Government at the moment and that this move is a departure from our European colleagues. Can the Minister con

Will the Minister give way?

Will the Minister give way?

Will the Minister give way?

As someone who has been sanctioned by the Russian state and worked on tackling financial crime in British business for more than a decade, it was apparent to me after only a cursory review of the gov.uk website that this is a new general licence to allow the roll-out of the new regime that the Minister has mentioned today. I thank him for coming to the House to set the record straight, but can he also assuage my constituents’ fears and say that, although we have heard a lot of rhetoric and blust

Putin must never be allowed victory in Ukraine and we will do everything we can as a Government and a country to debilitate and degrade the Russian war machine. That is precisely what our sanctions regime is designed to do. We have sanctioned more than 3,300 individuals and organisations and hundreds of shadow fleet tankers. It is as tough a sanctions regime as any in the world, and we are proud of it. I want to make it absolutely clear that our sanctions regime today is tougher than it was yest

First, I think the hon. Member must have missed the fact that a statutory instrument that, for the first time, implements a ban on refined Russian crude oil products processed in a third country is coming into force today. It did not come into force earlier in the year. Incidentally, it did not come into force when he was in government, because when the Conservatives were in government, they allowed such oil products to come into the UK, and he personally did absolutely nothing about it. The tru

There are two things here. A set of sanctions comes into force today, including on oil and oil products processed in a third country. It is the first time that the UK has gone down that route. As I say, the previous Government chose not to go down that route, even though people were arguing for it. I think this will be an important new measure in ratcheting up the pressure on the Russian regime. At the same time, partly in recognition of the instability there may be in the energy markets as a re

I am sorry, but I do just need to explain to the hon. Lady that we are not lifting any sanctions. We are implementing new sanctions, which only come into force today. Up until now, it has been perfectly legal to import Russian oil products processed in a third country into the UK—up until now. It is only now, because of this Government, with the new sanctions that come into force today, that that will not be possible. I really do hope that the hon. Lady will withdraw her comments. The whole of t

My hon. Friend makes an immensely important point on energy security, which is one reason why we are passionately committed to trying to make sure we are not reliant on oil or oil products from anywhere else in the world, and that we are able to not only meet our net zero targets, but be energy resilient for ourselves. She is also right that we need to work alongside our allies, not only—I would argue—on energy security but in relation to imposing sanctions. We must co-operate with other countri