United Kingdom to impose 35% higher duties were imposed on imports of a range of new goods from Russia and Belarus, including platinum, palladium and chemical products, totaling £1.4 billion ($1.72 billion). It is reported domain UK government.
The text states that the combined volume of Russian imports and UK exports to Russia, subject to increased taxes, will reach £4 billion ($5 billion).
This includes upcoming restrictions on the export of British goods to Russia to cover goods worth £250m ($310m) in “the sectors of the Russian economy most dependent on Britain”. We are talking about chemical industry products, polymers and industrial equipment. TASS.
“Export-import sanctions will now be imposed on goods worth more than £4 billion in total, which will significantly undermine Vladimir Putin’s military ambitions. By working closely with our Allies, we can and will disrupt Putin’s plans,” said UK Treasury Secretary Rishi Sunak.
The Minister noted that measures were taken in response to Russia’s military operation in Ukraine.
Alternative sources of supply
According to the calculations of the UK Ministry of Finance, after the next package comes into effect, restrictions will apply to 96% of goods imported into the kingdom from Russia (excluding gold and energy) and 60% of UK exports to Russia. The British government encourages all exporters from Russia to find alternative sources of supply.
In mid-March, British authorities announced the exclusion of Russia from the most favored nation trading regime and the imposition of an additional 35% tariff on imports of a number of Russian goods into the country.
These include copper, iron, steel, fertilizers, wood, tires, railroad containers, cement, aluminum, silver, lead, iron ore, beverages, vodka, vinegar, glass and glassware, grains, oilseeds, paper and cardboard, machinery, art, antiques, animal skins and faux leather, ships and whitefish.
On February 24, Russian President Vladimir Putin announced that the war had begun. special military operation In response to a request for assistance from the leaders of the DPR and LPR in Ukraine.
In response, the United States, Canada, the EU, the United Kingdom, and a number of other states have imposed sanctions against Russian individuals and legal entities. In addition, according to British Foreign Secretary Liz Truss, more than half of Russia’s gold and foreign exchange reserves (60%, or about $350 billion) were frozen. European officials are already investigating whether Russia’s reserves could somehow be used to restore Ukraine – the head of EU diplomacy, Josep Borrell, suggested that appropriate steps be considered.