UK slaps heavy tariffs on Russian imports, including vodka

Britain's Prime Minister Boris Johnson (R) and Latvia's Prime Minister Arturs Krisjanis Karins attend a meeting of the leaders of the the Joint Expeditionary Force (JEF), a coalition of 10 states focused on security in northern Europe, at Lancaster House, in London on March 15, 2022. - British Prime Minister Boris Johnson is on Tuesday hosting a summit with leaders from Nordic countries and Russia's Baltic neighbours. (Photo by JUSTIN TALLIS / POOL / AFP)

The UK government on Tuesday imposed an additional 35 percent import tariff on a swathe of Russian goods, including vodka, and banned exports of luxury products because of Moscow’s invasion of Ukraine.

“We want to cause maximum harm to (Russian President Vladimir) Putin’s war machine while minimising the impact on UK businesses,” the Department for International Trade said.

“Russian vodka is one of the iconic products affected by the tariff increases, while the export ban will likely affect luxury vehicles, high-end fashion and works of art.”

The list of goods covered by the additional tariffs include steel, wood, cereals, drinks, fur and white fish — all worth around £900 million ($1.2 billion, 1.1 billion euros) a year.

“The export ban will come into force shortly and will make sure oligarchs and other members of the elite, who have grown rich under President Putin’s reign and support his illegal invasion, are deprived of access to luxury goods,” the DIT said.

The UK will also deny Russia and its ally Belarus access to Most Favoured Nation tariffs under World Trade Organization rules.

“The UK is working with our international partners and is supporting the WTO to prevent those who fail to respect the rules-based international order from reaping its benefits,” it said.

(Subcribe to BritishHerald : Samia Suluhu Hassan | Mama Samia- Madam President | British Herald Magazine Jan-Feb 2022)

Exit mobile version