Britain’s new sanctions against Russia

Britain has announced new sanctions, including an export ban on all equipment used by Russia in the war against Ukraine, and an import ban on Russian iron and steel products.

Britain froze its assets last year by imposing sanctions on Russian officials and companies to weaken the Russian economy and reduce Russia’s effectiveness in the war against Ukraine.

New sanctions were imposed on 92 people and institutions, including allies of Russian President Vladimir Putin, such as Matthias Warnig, the head of Nord Stream 2.

Among those to be sanctioned are directors of Russia’s public nuclear power company Rosatom and executives of Russian banks and defense companies.

In a statement ahead of its meeting with the leaders of the G7 countries and Ukraine’s President Volodymyr Zelenskiy, the UK declared that internationally coordinated sanctions and trade measures will target aircraft parts, radio equipment and electronic materials.

Kemi Badenoch, UK Trade Minister, said: “Trade sanctions work. While products imported by the UK from Russia were down 99 per cent compared to the pre-invasion period, products exported to Russia were down 80 per cent.

The UK also stated that it will impose an import ban on 140 products, including Russian iron and steel products processed in other countries. (Reuters)