The British government announced on Tuesday new sanctions on Russia for the invasion of Ukraine, which include a ban on the export of certain luxury items, such as fashion, cars and works of art, and additional tariffs of 35% on imports such as vodka.
In a statement, the Ministry of International Trade affirms that these measures, which will come into force soon, “will inflict maximum damage on the war machine” of Russian President Vladimir Putin.
The imported products that will be subject to these new tariffs add up to a value of 900 million pounds (about 1,000 million euros, at today’s exchange rate), indicates the ministry.
These include iron, steel, fertilizers, wood, tires, rail containers, cement, copper, aluminum, silver, lead, iron ore, beverages, spirits and vinegar, glass, cereals, oilseeds, paper and cardboard, machinery, works of art, antiques, furs and artificial skins, boats and white fish, according to the government list.
The ministry indicates that both Russia and Belarus will no longer benefit from the Most Favored Nation Clause sponsored by the World Trade Organization (WTO).
The CNMF is an agreement where one party promises the other to always offer the best price or conditions when purchasing a product or service.
The British Government points out that the ban on the export of luxury goods is done in coordination with the Group of Seven (G7, most developed economies) while also working with the WTO.
The purpose of this veto is to ensure that “oligarchs and other members of the elite, who have grown rich under President Putin and support his illegal invasion, are deprived of access to luxury items,” the statement said.
“The UK stands shoulder to shoulder with our international partners to punish Putin for his barbaric actions in Ukraine, and we will continue to work to deprive his regime of the funds to carry them out,” the trade minister said in the note. International, Anne-Marie Trevelyan.
The head of Economy, Rishi Sunak, points out for his part that the new tariffs “will further isolate the Russian economy from world trade.”
Sunak recalls that London has already frozen assets and prohibits seven well-known oligarchs and 386 members of the Russian Duma from entering the country. (I)
Source: Eluniverso
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