(GBC) — The UK government announced new sanctions against Russia, in response to the invasion in Ukraine by Russian forces. The measures, targeted at Russia’s oligarchs and elite, include imposing stiff import tariffs on luxury goods such as vodka, artwork and antique, while eliminating Russia and Belarus’s “most favoured nation” status for hundreds of exports.
“The UK stands shoulder to shoulder with our international partners in our determination to punish [Russian President Vladimir] 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,” International Trade Secretary Anne-Marie Trevelyan said in a statement.
In a separate statement, the UK also announced new sanctions on hundreds of Russian and Belarusian individuals by freezing their assets and imposing a travel ban. Foreign Secretary Liz Truss said the sanctioned persons, including businessmen Mikhail Fridman, Petr Aven and German Khan, and their family has a combined estimated net worth of more than $130 billion.
The UK’s sanctions are in line with other G-7 countries. Earlier, the US announced that it would ban Russian aircraft from its airspace, impose export control measures and to freeze assets such as yachts and private jets owned by Russian oligarchs. Similar measures are adopted by the European Union.