There was a lot of conversation about having some euro vehicles to facilitate trade and investment from Britain and the other European countries and I do not quite know why that has run into the sand. Perhaps the Minister will enlighten us.
Let me come back to the general question that the right hon. Member for Wokingham raised, because it is important. One the one hand, everybody can have their idea of the perfect sanctions regime to get the particular policy objective they want. The problem with that lone ranger approach is that shared regimes are needed for sanctions to be effective. The statutory instruments
cover sanctions that were introduced at European level. The European Union is a large, significant group of countries that can have a significant impact when it imposes sanctions. Separately from that, we have legal obligations to impose any sanctions that are agreed at UN level. Because of the difficulty of doing anything that works, I want to know from the Minister how he intends to co-ordinate and co-operate in a post-Brexit world.
From the perspective of British business, there is already an awkwardness if the European regimes are not absolutely in line with the American regime, and a proliferation of different legal regimes would cause significant problems for British banks and businesses. I therefore personally do not believe that that is the right route to follow, so I come back to a question that I asked the Minister during the passage of the Sanctions and Anti-Money Laundering Act 2018. If he would like to intervene again, will he explain to the House how the Government intend to co-ordinate and co-operate with other European countries on sanctions policy post Brexit?
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