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Factbox-New UK sanctions target Russian luxury goods, steel and iron -Breaking

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© Reuters. FILE PHOTO – This illustration, taken on February 25, 2022, shows plastic letters that read “Sanctions”. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters – Britain declared a new round sanctions against Russia on Tuesday. The targets were hundreds of Russian businessmen as well as people closely connected to Russian President Vladimir Putin.

Here is a listing of all the measures that the government announced on Tuesday.

PUTIN OFICIALS

Britain placed sanctions against Sergei Shoigu (Russian Defence Minister), the ex-president and highest security official of Russia, Dmitry Medvedev and Dmitry Peskov, Krelin press secretary Dmitry Peskov, and Maria Zakharova, foreign ministry spokesperson.

TYCOONS

Britain has imposed sanctions on Russian businessmen such as Petr Aven, Andrei Melnichenko and Mikhail Fridman.

Based on Forbes estimates, it was estimated that the total combined worth of Tuesday’s sanctioned oligarchs is more than 100 trillion pounds.

BAN ON LUXURY GOODS

The government released a statement saying that the export ban would be in effect soon and it will prevent oligarchs from accessing luxury goods.

The ban is likely to affect high-end luxury cars, fashion items and art.

END OF THE MOST FAVOURED STATUS NATION

The British government stated in a statement that Britain would “deny Russia or Belarus access to Most Favoured Nation tarif for hundreds of their exporteds, and deprive them of key benefits from WTO membership.”

NEW TARIFFS ON IMPORTS

Britain published a complete list of goods including vodka, which would now be subject to 35% additional tariffs on top any current duties.

The government stated that iron, steel, timber, aluminium and silver will all be subject to higher tariffs.

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