UK introduces 35% duties on Russian platinum and palladium
By Trend
The United Kingdom will impose higher 35% duties on import of certain goods from Russia and Belarus, including platinum, palladium, and chemicals, totaling 1.4 bln pounds sterling ($1.72 bln), the government of the UK said in its statement released on Monday, Trend reports citing TASS.
"The sanctions announced today by the International Trade Secretary and the Chancellor of the Exchequer include import tariffs and export bans," the UK government said. The total volume of Russian import and UK export to Russia imposed to higher duties will reach 4 bln pounds sterling ($5 bln). It comprises prepared export bans covering goods worth 250 mln pounds sterling ($310 mln) "in sectors of the Russian economy most dependent on UK goods, targeting key materials such as chemicals, plastics, rubber, and machinery," the statement says.
"This is the third wave of trade sanctions announced by the UK government and, excluding gold and energy, will bring the proportion of goods imports from Russia hit by restrictions to more than 96%, with more than 60% of goods exports to Russia under whole or partial restrictions," the UK government noted. UK importers using Russian imports are encouraged to look for alternative supplies, it added.
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