§ 1. Mr. Zilliacusasked the President of the Board of Trade, in view of the policy of the Soviet Government as announced by the Soviet Ambassador on 17th March about the connection between an increase in British exports to the Union of Soviet Socialist Republics and purchases of Soviet oil, whether he will now reconsider Her Majesty's Government's political objection to allowing half the annual increase in this country's consumption of oil to be imported from the Union of Soviet Socialist Republics, provided the oil is sold through a British distributing agency.
§ Mr. ZilliacusIs not the hon. Gentleman aware that the Soviet Ambassador's statement made it clear that there would be a great deal more trade in the form 3 of orders for capital goods coming from the Soviet Union if such an arrangement were entered into, and will he not dissipate the impression that the Government are neglecting the trading interests of this country under pressure from American cold war interests and the big oil companies?
§ Mr. GreenI think it is well known that the United Kingdom's exports to the Soviet Union were only 1.1 per cent. of our total exports and that Soviet imports into the United Kingdom were only 1.9 per cent. of our total imports. The amount of trade that can be done between us depends very much, I agree, on the ability of the Soviet Union to earn sterling in our markets.