Monday 9 May 2022 10:50 AM UK hits Russia with third wave of trade sanctions worth £1.7bn - including ... trends now

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Britain has hit Russia with a third wave of trade sanctions and targeted precious metal imports in the latest action against Vladimir Putin's regime.

With Russia's barbaric invasion of Ukraine in its third month, the UK slapped a new package of sanctions on Russia - along with Mocsow's ally Belarus - aimed at £1.7billion worth of trade.

The action by ministers attempts to further cripple Mr Putin's war machine.

New measures against imports from Russia - adding an additional 35 percentage point tariff - will cover £1.4billion worth of goods, including platinum and palladium.

Russia is one of the leading platinum and palladium producing countries and is highly dependent on the UK for exports of the precious metals.

In addition, export bans on key materials such as chemicals, plastics, rubber and machinery will hit more than £250million worth of goods.

It is hoped these will harm sectors of the Russian economy most dependent on UK goods.