The British government announced on Sunday a new package of sanctions trades against Russia and Belarus due to the invasion of Ukraine, with export bans on Russian industry and higher tariffs, including on palladium.

"This major sanction package will deal more damage to the Russian war machine", International Trade Minister Anne-Marie Trevelyan said in a statement.

Tariffs will increase by 35 percentage pointsincluding platinum and palladium –used in the car industry–, while export bans target goods destined for Russia’s heavy machinery and manufacturing sectors, such as plastics, rubber or machinery.

"Russia is a major producer of platinum and palladium and relies heavily on the UK for export" these products, the government said.

Sanctions cover assets worth £1.7 billion (about 2,000 million euros, 2,100 million dollars), according to the executive, which brings the value of goods subject to trade sanctions to more than 4,000 million pounds since Russia invaded Ukraine on February 24.

The UK has also sanctioned over a thousand people and over a hundred companies since the invasion.


Please enter your comment!
Please enter your name here