London imposes new trade sanctions against Russia

London is further increasing the pressure on Moscow. The British government announced on Sunday a new set of trade sanctions against Russia and Belarus due to the invasion of Ukraine, with export bans targeting Russian industry and the rise of customs tariffs, in particular on the palladium.

“This significant sanctions package will inflict even more damage on the Russian war machine,” International Trade Minister Anne-Marie Trevelyan said.

A new train worth around 2 billion euros

Customs tariffs will increase by 35 percentage points, in particular for platinum and palladium, while export bans target goods intended for the manufacturing and heavy machinery sectors in Russia, such as plastics, rubber or machinery. “Russia is one of the main platinum and palladium producing countries and is heavily dependent on the UK to export” these products, the government stressed.

These sanctions relate to 1.7 billion pounds of goods in value (about 2 billion euros), said the executive, bringing to more than 4 billion pounds the value of the goods targeted by trade sanctions since the invasion. of Ukraine by Russia on 24 February. The United Kingdom has also sanctioned since then more than 1,000 individuals and more than 100 companies.

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