United Kingdom imposes additional sanctions on Russia

RUSSIA / FSU POLITICS - In Brief 09 May 2022 by Alex Teddy
On May 8 London said there will be higher tariffs on GBP 1.4 billion worth of goods from Russia and on exports to Russia worth GBP 250 million.The UK Finance Minister said that the value of the products that will face these tariffs is GBP 4 billion. The UK is raising tariffs on platinum and palladium by 35%. The UK is banning the export of chemicals, rubbers, machinery and plastics. London says the sanctions will hurt Russia significantly. The aim is to induce Russia to change policy.96% of goods imported from Russia to the UK are now subject to sanctions. Therefore, few Britons will buy Russian goods as they are more expensive. The UK is ending Russian oil imports by the close of 2022. Silver, wooden items and high end goods from Russia have been banned in the UK. There are higher tariffs on diamonds being sold to Russia. The British have also banned the sale of accountancy, PR and management consultancy services to Russia. 1 600 Russian people are organizations have been sanctioned.

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