All tariffs on products coming to Britain from Ukraine under an existing free trade agreement will be suspended to help the Ukrainian economy, the British government announced yesterday.
London has announced that tariffs should be reduced to zero and all restrictions lifted, following a direct request from Ukrainian President Volodymyr Zelensky, who said the move would boost Ukrainian companies involved in significant barley exports. canned tomatoes and poultry.
“We stand with Ukraine in its ongoing struggle and will work to ensure that Ukraine survives and prospers as a free and sovereign nation,” said Anne-Marie Trevelyan, the British Minister for International Trade.
Britain has announced that the current rate of customs duties on Ukrainian imports is around 22%. According to London, the planned change is offered on a non-reciprocal basis, but Kyiv is likely to make a similar move to that of the British.
In addition, the British government has announced that it will impose further restrictions on exports of products to Russia, including economic liquidity, products related to the sea, technology, and energy products.
Last week, London tightened sanctions on luxury items such as caviar, silver and diamonds.
SOURCE: AMPE
Source: Capital
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