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London announces new trade sanctions against Russia

2022-05-08T21:52:32.267Z


After the new salvo of American sanctions decreed this Sunday, the United Kingdom announced new export bans with an increase in customs tariffs.


The British government on Sunday announced a new round of trade sanctions against Russia and Belarus over the invasion of Ukraine, including export bans on Russian industry and higher tariffs, including on the palladium.

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"

This significant sanctions package will inflict even more damage on the Russian war machine

," International Trade Minister Anne-Marie Trevelyan said in a statement.

Customs tariffs will increase by 35 percentage points, in particular for platinum and palladium - used in the automotive industry - while export bans target goods destined for the manufacturing and heavy machinery sectors in Russia, such as plastic, rubber or machinery.

Russia is one of the main platinum and palladium producing countries and is heavily dependent on the UK to export

” these products, the government stressed.

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These sanctions relate to 1.7 billion pounds of goods in value (about 2 billion euros), said the executive, bringing to more than 4 billion pounds the value of the goods targeted by trade sanctions since the invasion. of Ukraine by Russia on 24 February.

The UK has also sanctioned over 1,000 individuals and over 100 companies since the invasion.

Earlier in the day, it was the United States which announced in a press release from the White House a new salvo of sanctions against Russia, around two major axes: the media, and the access of companies and large fortunes companies in consulting and accounting services, of which the Americans and the British are the world's leading specialists.

Source: lefigaro

All news articles on 2022-05-08

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