It was announced this morning that the UK Government has imposed a new raft of sanctions on Russia including a ban on exports of luxury goods to Russia and Belarus.
Additionally, an initial list of goods worth £900 million - including vodka, which will now face additional 35 per cent tariff, on top of current tariffs - was announced, denying Russia access to Most Favoured Nation tariff for hundred of exports, meaning that both nations will not be able to benefit from key benefits of WTO membership.
Walpole’s Chief Executive, Helen Brocklebank commented: “We are fully supportive of the economic sanctions being imposed on Russia by the UK and its allies. All of our members have immediately complied with the sanctions imposed and are working to support local employees in any way they can. The events in Ukraine are a tragedy for its citizens and we hope for a swift de-escalation of this deeply troubling situation."
HMG officials are hosting two webinars for businesses about the recent changes to UK sanctions relating to Russia:
UK Sanctions relating to Russia: Briefing by UK Government – Thursday 17th March 1pm GMT
The webinar will cover; sanctions legislation overview; new sanctions measures: financial, trade and transport; individual and entity designations; and humanitarian issues. Please register via Eventbrite.
UK sanctions against Russia – Thursday 24th March 2pm GMT
The webinar will cover; the scope of sanctions, scope and application of trade sanctions; financial sanctions: restrictions and general licenses; the Export Support Service and enforcement of trade sanctions. Further details can be found here, and you can register here.
