The UK has announced new sanctions against Russia and Belarus. These include raising tariffs and banning exports.
In particular, the UK government will increase by 35% tariffs on imports of Russian goods, including imports of platinum and palladium. In total, the increase in tariffs will affect trade in goods totaling £ 1.4 billion.
In addition, the United Kingdom will impose a total ban on the sale of certain goods to Russia for a total of £ 250 million. These are chemicals, rubber, plastics, and various equipment used, in particular, in Russiaʼs heavy machinery.
"We are determined to do everything possible to thwart Putinʼs goals in Ukraine and undermine his illegal invasion, which has led to barbaric actions against the Ukrainian people.
This far-reaching package of sanctions will further damage the Russian military machine. This is part of a coordinated effort by many countries around the world, who are terrified of Russiaʼs behavior and determined to use their economic power to persuade Putin to change course, "said Secretary of State for International Trade Ann-Marie Trevelyan.