Russian whitefish features among £900 million worth of key products that the UK government has placed significantly higher import tariffs on in addition to existing tariffs as part of its response to the invasion of Ukraine.
As well as the tariffs which represent a 35% increase on current rates, the UK has announced a ban on exports of high-end luxury goods to Russia, which the government said is likely affect luxury vehicles, high-end fashion and works of art.
It said that denying Russia access to “Most Favoured Nation” tariff treatment for key imports and applying additional tariffs will restrict Russian exports to the UK.
The new measures, due to come into force soon, are intended to “cause maximum harm to Putin’s war machine” while minimising the impact on UK businesses as G7 leaders unite to “unleash a fresh wave of economic sanctions” on Moscow, it added.
Commenting on the measures, International Trade Secretary, Anne-Marie Trevelyan, said, “The UK stands shoulder to shoulder with our international partners in our determination to punish Putin for his barbaric actions in Ukraine, and we will continue our work to starve his regime of the funds that enable him to carry them out.”
Chancellor of the Exchequer, Rishi Sunak, said the new tariffs would further isolate the Russian economy from global trade, and ensure that it does not benefit from the rules-based international system that it does not respect.
“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,” Sunak said.
According to figures compiled by UK public body Seafish, the UK imported 48,000 tonnes of whitefish directly from Russia in 2020. It also deems that a considerable proportion of Chinese whitefish imports that year was also of Russian origin.
