Britain has tightened sanctions against Russia, including a ban on luxury goods such as caviar, silver and diamonds, in retaliation for Moscow’s invasion of Ukraine.
On Thursday, the British government announced a new round of sanctions, including new import bans and high tariffs on Russian products. The most recent measures include import bans on silver, wood products and high-end Russian products, including caviar.
The move aims to increase pressure on Russia’s collapsing economy as President Vladimir Putin steps up his nine-week-old invasion of Ukraine.
Tariffs on around £130million worth of goods from Russia and Belarus, including diamonds and rubber, will rise by 35 percentage points, the UK Department for International Trade has announced.
“The UK continues to stand with Ukraine and is working closely with our international partners to inflict maximum damage on the Putin regime, cutting the resources and funds it needs to fight this war. illegal,” International Trade Secretary Anne-Marie Trevelyan said. in the announcement of sanctions.
“We are taking every opportunity we can to increase the pressure to isolate the Russian economy and these new measures will tighten the screws, shutting down lucrative avenues of funding for Putin’s war machine.”
Chancellor Rishi Sunak says the ‘significant sanctions’ will increase the UK’s total tariffs and bans on Russian goods to more than £1billion, ‘imposing further economic pain on Putin’s economy for his barbaric and unwarranted attacks on a sovereign nation”.
The UK has already banned the import of a number of steel products from Russia and Belarus, as well as some luxury goods.
Sanctions imposed last month ban the export of hundreds of millions of pounds of goods to Russia, including luxury cars, designer clothes and accessories, precious stones and works of art.
The move was aimed at preventing Russian oligarchs and other members of the country’s elite from accessing their luxury goods.
Russia has also been hit by crippling import tariffs on goods worth over £900million, including Russian vodka.
The new trade restrictions follow the British government’s announcement earlier on Thursday of 26 new sanctions targeting “defence actors”, including military generals and defense companies involved in the war in Ukraine.
The Foreign Ministry said the latest round of sanctions was in response to Russia’s “continuing war of aggression in Ukraine” and its renewed assault on Donetsk and Luhansk.
He said intelligence indicated civilian infrastructure in the heavily fortified city of Mariupol, including hospitals, schools and transportation, was deliberately targeted.
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