NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

Vodka, Other Russian Imports In UK Face Heavy Tariffs Over Ukraine War.

Vodka, Other Russian Imports In UK Face Heavy Tariffs Over Ukraine War

Ukraine Russia War: The UK has also severed ties with Russian banks. (File)

London:

Britain on Tuesday imposed an additional 35 percent tariff on a swathe of Russian imports, from vodka to steel, and banned exports of luxury goods over 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 -- worth 900 million pounds ($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.

Britain will 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.

"These tariffs build on the UK's existing work to starve Russia's access to international finance, sanction Putin's cronies and exert maximum economic pressure on his regime," said Chancellor of the Exchequer Rishi Sunak.

Since Russia invaded Ukraine almost three weeks ago, the UK has sanctioned more than 500 Russian individuals and entities.

That includes travel bans and asset freezes on 18 oligarchs with a combined worth of over 30 billion pounds, including Chelsea Football Club owner Roman Abramovich, as well as Putin himself and his foreign minister Sergei Lavrov.

The UK has also severed ties with Russian banks, barred Russian planes and vessels and will phase out Russian oil imports by the end of the year.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Останні новини
ABC News Live: Biden calls on lawmakers to confront gun lobbyists l ABCNL.

ABC News Live: Biden calls on lawmakers to confront gun lobbyists l ABCNL.

Investigators confirm the gunman in the deadly Texas elementary school shooting was armed with two AR-15-style rifles and died in a shootout with law enforcement. WATCH the ABC News Live Stream Here: SUBSCRIBE to ABC NEWS: Watch More on LIKE ABC N...

Golden State Warriors' Damion Lee:  «It's easier to get a gun than baby formula».

Golden State Warriors' Damion Lee: «It's easier to get a gun than baby formula».

Golden State Warriors player and father of a baby boy Damion Lee called for stricter gun control following the shooting in Uvalde, Texas, saying it's easier to "get a gun than baby formula right now." #News #Uvalde #BabyFormula CBS News Streaming ...

1

Beto O'Rourke interrupts Gov. Abbott's news conference

Beto O'Rourke interrupts Gov. Abbott's news conference

Texas Democratic gubernatorial nominee Beto O'Rourke interrupted a press conference where Gov. Greg Abbott and other officials were providing updates on the Uvalde elementary school shooting. #CNN #News

NBA coach Kerr makes emotional plea for stricter gun control.

NBA coach Kerr makes emotional plea for stricter gun control.

MOMENT NBA coach Kerr makes emotional plea for stricter gun control in the United States of America, following mass shooting in Texas. A visibly shaken Kerr, who has been an advocate of tighter gun laws, said he would not discuss the Warriors' Eas...

1 1

Texas trauma surgeon recounts experience in hospital after Robb Elementary School shooting.

Texas trauma surgeon recounts experience in hospital after Robb Elementary School shooting.

Dr. Lillian Liao, Director of Pediatric Trauma at University Hospital in San Antonio, talks with CBS News about operating on some of the injured after the mass shooting at Robb Elementary School. CBS News Streaming Network is the premier 24/7 anch...

Beto O'Rourke: 'Now Is The Time To Stop The Next Shooting'.

Beto O'Rourke: 'Now Is The Time To Stop The Next Shooting'.

NBC's Morgan Chesky spoke to Beto O'Rourke, Democratic nominee for governor of Texas, after he disrupted a briefing on the school shooting in Uvalde and called on lawmakers to act on gun control reform. » Subscribe to NBC News: » Watch more NBC vi...