Economic news

New UK Trade Sanctions Hit Russian Caviar and Diamonds

LONDON, April 21 (Reuters) - Britain ramped up trade sanctions on Russia, targeting luxury goods including caviar, silver and diamonds through import bans and higher tariffs, seeking to punish Moscow for its invasion of Ukraine.

Latest sanctions will include import bans on silver, wood products and high-end goods from Russia including caviar, Britain's department for international trade said.

They added that tariffs will increase by 35 percentage points on some products from Russia and Belarus, including diamonds and rubber.

In an initial wave of trade sanctions on March 15 Britain announced import bans on some luxury goods and additional tariffs on a range of Russian products, including vodka, metals, fertilisers and other commodities. 

The restrictions on trade come in addition to 26 new sanctions announced by the government targeting Russian military generals responsible for what it called atrocities in Ukraine.

Reporting by William James, writing by Muvija M

Source: Reuters

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree