The UK Government has announced further trade sanctions against
Russia – expanding the list of products facing import bans and
increasing tariffs. With these new measures, the UK will now be
imposing import tariffs and bans on over £1bn of Russian goods.
The new sanctions – announced today (Thursday, April 21) by
International Trade Secretary and Chancellor of the
Exchequer - will include import bans on
silver, wood products and high-end products from Russia including
caviar.
We will also increase tariffs by 35 percentage points on around
£130m worth of products from Russia and Belarus, including
diamonds and rubber.
The UK has led the international sanctions effort, already
increasing tariffs on goods from Russia and Belarus, banning the
import of many iron and steel products as well as the export of
quantum technologies, advanced materials and luxury goods and
cutting off any new UK Export Finance (UKEF) support for Russia
and Belarus.
International Trade Secretary said:
The UK continues to stand shoulder-to-shoulder with Ukraine and
is working closely with our international partners to inflict
maximum damage to Putin’s regime, reducing the resources and
funds he needs to carry out this illegal war.
We are taking every opportunity we can to ratchet the pressure to
isolate the Russian economy and these further measures will
tighten the screws, shutting down lucrative avenues of funding
for Putin’s war machine.
Chancellor of the Exchequer said:
We are steadfast in our support for the people of Ukraine and
these new significant sanctions against Putin will bring the
total import tariffs and bans on Russian goods to over £1 billion
- imposing further economic pain on Putin’s economy for his
barbaric and unjustified attacks on a sovereign nation.
A full list of products
targeted is available online.
