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

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Britain to ban exports of luxury goods to Russia, impose new import tariffs
March 15, 2022, 11:08 am

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

UK parliament-Big Ben/Pixabay

The National Post reported, citing Reuters, Britain on Tuesday said it would ban the export of luxury goods to Russia and impose new tariffs on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka.

Finance minister Rishi Sunak said in a statement: “Our new tariffs will further isolate the Russian economy from global trade, ensuring it does not benefit from the rules-based international system it does not respect."

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It should be noted that PM Boris Johnson wrote to the Telegraph saying: "When Putin invaded Ukraine the first time round, in 2014, the West made a terrible mistake. The Russian leader had committed an act of violent aggression and taken a huge chunk out of a sovereign country - and we let him get away with it."

Source: nationalpost, BBC

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