United Kingdom: new trade sanctions against Russia
The British government announced on Sunday that it would raise customs duties on imports of platinum and palladium, new sanctions taken against Russia.
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Text by: RFI Follow
1 min
The UK imposes new trade sanctions against Russia.
The British government announced on Sunday that it would raise tariffs on imports of platinum and palladium.
These provisions are part of a new set of measures targeting more than 2 billion euros in trade.
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This is the third round of sanctions taken by London against Russia since the start of its offensive in Ukraine.
The UK will raise tariffs by 35 percentage points for Russian and Belarusian platinum and palladium.
This is a blow for Russia, because it is one of the biggest producers in the world.
It now represents 40% of the world supply of palladium, and is highly dependent on the British to export these products.
Platinum and palladium are highly sought after metals by the automotive industry.
They are, in fact, essential components in the manufacture of catalytic converters for vehicles, because they reduce polluting emissions.
►
To listen: The EU tightens the sanctions against Russia: "The idea is to dry up financial flows"
Export bans
In this new set of sanctions, the United Kingdom also provides for export bans, targeting Russian industry.
And in particular goods intended for the manufacturing sector, such as plastics, rubber or machinery.
In total, all these British sanctions target more than 2 billion euros in trade.
►Read: Oil embargo, new sanctions: the Western bloc is increasing its pressure on Russia
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