Market: Britain to raise taxes on imports of Russian platinum

LONDON (Reuters) – Britain said on Sunday it would raise tariffs on imports of platinum and palladium from Russia and Belarus, as part of a new set of sanctions targeting some $2.1 billion in trade.

These are, London said, measures intended to further weaken the war machine of Russian President Vladimir Putin, after the offensive launched in Ukraine on February 24.

Customs duties on a range of products will be raised by 35 percentage points, said the British government, which will also ban exports of chemicals and plastics to Russia.

In a statement, the British finance minister said that more than 4 billion pounds of products would be subject to import and export sanctions.

“By working closely with our allies, we can and will thwart Putin’s ambitions,” he said.

This is the third round of sanctions taken by London against Russia since the start of its offensive in Ukraine.

(Report Paul Sandle; French version Jean Terzian)

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