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The UK government said on Tuesday it has taken further measures against Russia following its invasion of Ukraine.
The UK has published an initial list of goods worth £900 million that will face an additional 35% import tariff, on top of existing tariffs. The list includes spirits such as vodka, various foods, as well as materials like iron, steel, wood, copper and other metals.
‘These products have been selected to inflict maximum damage on the Russian economy while minimising the impact on the UK,’ the government said.
Russia and Belarus will be denied access to the Most Favoured Nation tariff for hundreds of exports, which will ‘deprive both nations key benefits of World Trade Organisation membership’.
The UK government also has banned the export of luxury goods to Russia, which is likely to affect luxury vehicles, high-end fashion, and works of art.
‘These tariffs build on the UK's existing work to starve Russia's access to international finance, sanction Putin's cronies and exert maximum economic pressure on his regime,’ said Chancellor of the Exchequer Rishi Sunak.
These further measures bring the sanctions in line with those imposed by the UK's allies, with similar measures also agreed by the EU on Tuesday.
Further details will be announced ‘in due course’.
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