On Twitter, the head of British diplomacy wrote that the new package will affect trade with those countries by some 1.7 billion pounds sterling (2.1 billion dollars), and is aimed at weakening President Vladimir Putin’s “war machine.”
In the measures, in which the total amount of the sanctions imposed by London will raise to four billion pounds (almost five billion dollars), an increase in tariffs on precious metals such as platinum and palladium from Russia and Belarus is announced for the first time.
On February 24, Moscow launched what Putin described as a special military operation in Ukraine in response to a request help formulated by the authorities of the self-proclaimed Donetsk and Lugansk People’s Republics to repel the increase in aggression and shelling from the Ukrainian armed forces.
The United Kingdom, the United States, the European Union and the remaining North Atlantic Treaty Organization allies accuse Putin of launching a full-scale invasion against the neighboring country, and implemented economic and financial sanctions against that country.
In the case of London, the measures cover more than 1,000 individuals and 100 Russian companies, including state-owned media outlets such as Russia Today and Sputnik.