In co-ordination with our allies, we are introducing the largest and most severe economic sanctions that Russia has ever faced, to help cripple Putin's war machine. We are denying Russia most-favoured-nation treatment relating to hundreds of key products, ramping up the pressure on Russia's economy by making it more difficult for it to trade by imposing punitive tariffs of 35%. We are prohibiting the export of certain goods, including critical technologies and luxury goods, and finally we are also phasing out the import of Russian oil and coal to deny it access to lucrative energy revenues. Details can be found in the impact assessment on gov.uk.

I thank my hon. Friend for his commitment to our eastern European neighbours and allies. This is an incredibly difficult time for all of them, not only in security terms but in terms of economics and trade as well. I will meet the Ukrainian ambassador this afternoon to discuss further ways in which we can support them and help Ukrainian businesses to continue to trade as easily as possible, and we are working very closely with CBIs in the region to help them find solutions.

Our export support service has been focused on supporting those businesses with difficulties created by their Russian or Belarusian supply chains. Thales in Northern Ireland have been extraordinary in helping to provide support by providing the NLAWs—next-generation light anti-tank weapons—and defensive equipment that can help the Ukrainians fight the Putin war machine.