Britain: Announces new trade sanctions on Russia

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The British government on Sunday announced a new package of trade sanctions against Russia and Belarus over the invasion of Ukraine, which includes export bans for industry and higher customs duties, especially on palladium.

“This large package of sanctions will do even more damage to the Russian war machine,” said International Trade Minister Anne-Marie Trevelian, according to a press release issued by her services.

Customs duties will increase by 35 percentage points, especially on platinum and palladium – raw materials used mainly by the automotive industry – while export bans apply to goods intended for industry in Russia, especially heavy machinery, but not only (chemicals). , plastics, rubber …).

“Russia is among the largest producers of platinum and palladium and is heavily dependent on the United Kingdom” for the export of these products, according to the Conservative government.

The announced sanctions concern goods worth 1.7 billion pounds (about 2 million euros), according to London. In total, British sanctions have targeted 4 4 billion worth of goods since the Russian invasion of Ukraine began on 24 February.

London has also announced sanctions against more than 1,000 people and more than 100 businesses after the invasion.

source: ΑΠΕ

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