London, May 9:The UK has announced new sanctions against Russia and Belarus targeting $2 billion worth of trade, according to the government.
It said that the latest sanctions would “bring the total value of prodcts subjected to full or partial import and export sanctions since Russia’s illegal invasion of Ukraine began to more than ?4 billion”.
The sanctions were announced on Sunday by the International Trade Secretary and the Chancellor of the Exchequer.
According to the statement, “The new import tariffs will cover ?1.4 billion worth of goods ? including platinum and palladium ? hampering Putin’s ability to fund his war effort.”
The government said that the export bans intend to hit more than ?250 million worth of goods in sectors of the Russian economy most dependent on UK goods, targeting key materials such as chemicals, plastics, rubber, and machinery.
Secretary of State for International Trade, Anne-Marie Trevelyan said, “We are determined to do our utmost to thwart Putin’s aims in Ukraine and undermine his illegal invasion, which has seen barbaric acts perpetrated against the Ukrainian people.
Chancellor of the Exchequer, Rishi Sunak said: “Putin’s illegal invasion of Ukraine is causing suffering on an enormous scale. His barbaric war must be stopped.
“Over”4 billion worth of goods will now be subject to import and export sanctions, doing significant damage to Putin’s war effort. Working closely with our allies we can and will thwart Putin’s ambitions.” This is the third set of trade sanctions announced by the UK government.
(UNI)
Follow our WhatsApp channel
