Britain[/B] today imposed sanctions on hundreds of individuals and entities from Russia, using a new law to follow the lead of the European Union and the US in targeting people accused of supporting Russian President Vladimir Putin.
Britain, the EU and the US hope that the sanctions will deter Putin from continuing his invasion of Ukraine.
In the latest round of sanctions, which came quickly after the passage of the Economic Crime Bill, Britain moved against those close to Putin, including Prime Minister Mikhail Mishustin, former President and Prime Minister Dmitry Medvedev, Defence Minister Sergei Shoigu and television executive Konstantin Ernst.
Russian businessmen[/B] Mikhail Fridman and Petr Aven, oligarchs who amassed their wealth before Putin came to power, were also targeted by the sanctions, as were Kremlin spokesman Dmitry Peskov and Foreign Ministry spokeswoman Maria Zakharova.
Britain announced that the latest round of sanctions includes elite people with fortunes worth 100 billion pounds ($130.63 billion).
"We are going further and faster than ever before, hitting those closest to Putin - from big oligarchs, to his prime minister, to the propagandists who spread his lies and misinformation. We hold them accountable for their complicity in Russian crimes in Ukraine," Secretary of State Liz Truss said."
"Working closely with our allies, we will continue to increase pressure on Putin and cut off funding for the Russian war machine," she said in a statement.
Truss said Britain had imposed more than 370 new sanctions, bringing the total to more than 1,000 since Russia invaded Ukraine on February 24.
Britain earlier announced it would ban the export of luxury goods to Russia and impose new 35 percent tariffs on $900 million worth of Russian imports. pounds ($1.2 billion), including vodka, metals, fertilizer and other goods.
"Our new tariffs will further isolate the Russian economy from global trade, ensuring it is not favored by the rules-based international system that it does not respect," Finance Minister Rishi Sunak said in a statement.
Russia is conducting a "special operation" to disarm and "denazify" Ukraine, which Kiev and its allies say is an unfounded pretext for invading a democratic country of 44 million people. The government said the export ban would take effect in the near future and would specify which products would be affected, but added that it would likely include expensive fashion items, artwork and luxury cars.
Several British companies, including Jaguar Land Rover and Aston Martin and Burberry, have already announced that they are temporarily closing their stores in Russia or suspending the distribution of products.
Britain said that the products subject to the additional 35% duty were chosen to minimise the impact on Britain while maximising the impact on the Russian economy.
The products include iron, steel, fertilisers, timber, tyres, cement, copper, aluminium, silver, lead, soft drinks and alcoholic beverages, machinery, works of art, antiques and furs, among others.
The government also said it is withdrawing all financial support for exports to Russia and Belarus, meaning it will no longer provide new guarantees, loans or export insurance.
Source: Proto Thema
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