LONDON (Reuters) – Britain announced on Tuesday it would ban exports of luxury goods to Russia and impose a new 35 percent tariff on 900 million pounds ($1.2 billion) of Russian imports including vodka, metals and fertilizers. and other goods.
The measure is the latest in a series of economic sanctions announced by the British government to punish Russian President Vladimir Putin for invading Ukraine. More sanctions against wealthy Russian citizens are expected to be announced on Tuesday.
“Our new tariffs will further isolate the Russian economy from global trade, and ensure that it does not benefit from the rules-based international system that does not respect it,” Russian Finance Minister Rishi Sunak said in a statement.
London said it would determine which products would be affected by the export ban, but added that it would likely include high fashion, fine art and luxury cars.
Britain said that goods subject to an additional 35% tariffs were selected to reduce the impact on the country and maximize the impact on the Russian economy.
Commodities include: iron, steel, fertilizer, timber, tires, railway containers, cement, copper, aluminum, silver, lead, iron ore, food scraps, waste products, beverages, spirits, vinegar, glass, crystal, grain, oilseeds, paper, cardboard, machinery, artwork, antiques, furs, artificial leather, boats and white fish.
The British government also said it would withdraw all its aid to finance exports to Russia and Belarus.
(dollar = 0.7677 pounds)
(Reporting by William James; Editing by Kayleigh McClellan and Paul Sandel; translated by Jose Muñoz in the Gdansk newsroom)