In the latest blow to Putin, the UK will buckle down on Russia and Belarus trade with fresh new sanctions
The UK believes it will impact Russia’s ability to fund the war, putting further strain on Putin’s power
The U.K. Department for International Trade said the sanctions will target 1.7 billion pounds in trade
Right now, we’re looking at over 2 billion US dollars across import tariffs on platinum and palladium and export bans on chemicals, plastics, rubber, and machinery.
It’s also expected almost half a billion dollars in sectors of the Russian economy most dependent on UK goods will be hit too.
This comes as Europe Day celebrations gets underways.
The message today is loud and clear, that Europe is united for Ukraine.
This was echoed during a recent call with western leaders, who aren’t shy in ramping up their sanctions against Russia.
G7 leaders gathered on a video call with Ukrainian President Volodymyr Zelensky, with the US and Canada also imposing new sanctions.
Let’s not forget, this isn’t the first time the UK is choosing to target trade.
This is actually the third round of trade sanctions from the UK.
So looking at the bigger picture excluding gold and energy – this would see more than 96 per cent of goods imports from Russia hit by restrictions and more than 60 per cent of goods exports to Russia under whole or partial restrictions.
Of course this all comes as Russia prepares to celebrate Victory Day, with all eyes on Putin
And in the words of the UK international trade secretary, this far-reaching package of sanctions will inflict further damage on the Russian war machine.
