On the 15th, the EU-European Union and the United Kingdom announced additional sanctions against Russia, including the cancellation of trade incentives called "most favored nation".

On the 15th, the EU decided to impose additional sanctions on Russia, which continues its military invasion of Ukraine, and agreed to revoke the trade incentives called "most favored nation" that the United States had previously stated.



If implemented, high tariffs are expected on imports from Russia.



Although the policy of continuing to import natural gas and oil from Russia remains unchanged, in principle, new investment in the energy field will be banned, and the import of steel products, for which the EU is the main market for Russia, will be banned. increase.



It also bans the export of luxury cars and jewelry in order to hurt the wealthy in Russia.



Meanwhile, the United Kingdom also announced on the 15th that Russia will be excluded from most favored nation treatment.



In addition to copper and aluminum imported from Russia, a total of hundreds of types of imported products such as vodka will be subject to an additional 35% tariff.



Treasury Minister Snak emphasized the effects of sanctions, saying, "Our new tariffs will further isolate the Russian economy from international trade."



The G7 = seven major countries announced on the 11th that they will try to cancel Russia's "most favored nation treatment" by issuing a joint statement, and the EU and the United Kingdom have indicated that they will work together to strengthen sanctions.

Keywords: