Britain to ban exports of luxury goods to Russia, impose new import tariffs

15th March 2022 / NewsBits
  • Britain said on Tuesday it would ban the export of luxury goods to Russia and impose a new 35% tariff on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka, metals, fertilisers and other commodities
  • The tariffs will affect £900m of imports, while the ban on luxury goods is likely to apply to luxury vehicles, high-end fashion and works of art.
  • Products affected by the new tariffs on Russian imports are: Iron, steel, fertilisers, wood, tyres, railway containers, cement, copper, aluminium, silver, lead, iron ore, residue/food waste products, beverages, spirits and vinegar (this includes vodka), glass and glassware, cereals, oil seeds, paper and paperboard, machinery, works of art, antiques, fur skins and artificial fur, ships and white fish
  • The government says the products were chosen to inflict maximum damage on the Russian economy while minimising the impact on the UK

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