Business & Economy

UK sanctions further 350 Russian individuals, hikes tariffs on vodka

London, Mar 15 (EFE).- The United Kingdom’s government on Tuesday announced sanctions against an additional 350 Russian individuals and entities in response to the country’s invasion of Ukraine.

The move comes after a new Economic Crime Law was approved in the United Kingdom, allowing the government of prime minister Boris Johnson to impose further sanctions on Russian oligarchs over their links to president Vladimir Putin

Since Russia launched a full-scale attack on Ukraine on February 24, the UK has sanctioned 935 people and 70 entities and subsidiaries, according to official figures.

Among the individuals who have been added to the latest sanctions are Russian defense minister Sergei Shoigu, former Russian president Dmitry Medvedev, and founder of Alfa Bank Mikhail Fridman, the largest private bank in Russia.

The sanctions that will enter into force soon involve UK travel bans and asset freezes.

Further economic sanctions were also announced earlier on the day, including a ban on the export of luxury items to Russia such as British vehicles, high-end fashion and works of art, and an additional 35% tariff on Russian imports, including vodka.

These measures “have been selected to inflict maximum damage” on the Russian economy, the UK Department for International Trade said Tuesday.

On Monday, the European Union also agreed on the fourth package of sanctions against Russia.EFE


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