On 8 May, the Department for International Trade issued a news release saying that it is –
- raising tariffs by 35 percentage points on products such as chemicals, platinum, and palladium, which represented almost 10% of UK exports to Russia in 2021; and
- imposing import restrictions on over £2.4 billion of imports from Russia, excluding energy-related announcements;
It encourages all importers that use Russian imports to source alternative supplies, but the changes will require legislation which will be laid in due course to implement these measures.
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