UK ministers have imposed a series of new export bans and tariffs on Russian products, the morning after the passage of the economic crime bill, intended to make it swifter and easier to target oligarchs and Russian interests.
The UK will deny Russia and Belarus access to WTO most-favoured nation tariffs for hundreds of their exports, a statement from the trade department and Treasury said, with an initial list of goods now facing additional 35% tariffs.
Russian vodka is among products affected by the increases, while the export ban is billed as affecting areas such as luxury vehicles, high-end fashion and works of art going from the UK to Russia.
On Monday, MPs and peers sat late into the night to ensure the passage of the economic crime bill, which redrew some sanctions law, which ministers said would make sanctions and other economic measures easier.
Liz Truss, the foreign secretary, has promised a “hit list” of hundreds more oligarchs, Russian elites, politicians, businesses and organisations which the UK will target, having been previously criticised for the slow pace of the sanctions.
“Liz has moved heaven and earth to get this legislation done. It transforms our ability to sanction Russia and go further and faster than before,” one government source said.
