Skip to main content

EU Economic Policy: Zimbabwe

Volume 475: debated on Monday 12 May 2008

To ask the Chancellor of the Exchequer (1) what assessment he has made of the compliance by Northern Rock Bank and its subsidiaries with the requirements of EU Regulation 898/2005, as amended, on financial sanctions against members of the Zimbabwean government; (204998)

(2) what discussions he has had with the Board of Northern Rock Bank on the compliance of the bank and its subsidiaries with the requirements of EU financial sanctions against Zimbabwe.

During this period of temporary public ownership, Northern Rock is managed by its board at arm’s length from Government on commercial principles.

We expect any bank subject to UK law to comply with all relevant rules and regulations.