Britain announced today that it would ban the export of luxury goods to Russia and impose new tariffs of 35% on Russian imports worth 900 million pounds ($ 1.2 billion), including vodka, metals, fertilizers and other goods. .
The move is the latest in a series of economic sanctions announced by the government to punish Russian President Vladimir Putin for invading Ukraine. Further sanctions against wealthy Russians are expected to be announced later today.
“Our new tariffs will further isolate the Russian economy from world trade, ensuring that it does not benefit from a disrespectful international system that does not respect it,” Finance Minister Risi Sunak said in a statement.
The government has said it will determine which products are affected by the export ban, but added that they are likely to include expensive fashion items, works of art and luxury cars.
Britain announced that the products, subject to an additional duty of 35%, were selected to minimize the impact on Britain, while maximizing the impact on the Russian economy.
The government also said it was withdrawing all financial support for exports to Russia and Belarus.
Source: Capital
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