UK Adds to Import Sanctions Against Russia
The U.K. announced even more import sanctions on Russia following its invasion of Ukraine, adding to the list of goods facing higher tariffs or outright bans, the Department for International Trade announced. The new restrictions include bans on silver, wood products and on high-end Russian products, including caviar, the DIT said. Tariffs will also be upped by 35% on nearly $169 million worth of goods from Russia and Belarus, including diamonds and rubber.
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"The UK continues to stand shoulder-to-shoulder with Ukraine and is working closely with our international partners to inflict maximum damage to Putin’s regime, reducing the resources and funds he needs to carry out this illegal war," International Trade Secretary Anne-Marie Trevelyan said. "We are taking every opportunity we can to ratchet the pressure to isolate the Russian economy and these further measures will tighten the screws, shutting down lucrative avenues of funding for Putin’s war machine."