LONDON: The UK on Sunday said it was slapping fresh sanctions on Russia and Belarus over Moscow’s invasion of Ukraine, including import tariffs on precious metals and export bans.
The import tariffs, including on platinum and palladium, target trade worth £1.4 billion ($1.7 billion or 1.6 billion euros), while export bans worth £250 million target Russia’s manufacturing and heavy industry, said a statement from the Department for International Trade.
“This far-reaching package of sanctions will inflict further damage on the Russian war machine,” said secretary of state for International Trade Anne-Marie Trevelyan.
“It is part of a wider coordinated effort by the many countries around the world who are horrified by Russia’s conduct and determined to bring to bear our economic might to persuade (Russian President Vladimir) Putin to change course.”
The UK’s new sanctions bring the total value of products subjected to full or partial import and export sanctions to more than £4 billion.
“Over £4 billion worth of goods will now be subject to import and export sanctions, doing significant damage to Putin’s war effort,” said finance minister Rishi Sunak.
The UK has slapped a range of sanctions on Russian companies and individuals since Russia invaded Ukraine with Belarusian help in February. - FMT
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