Commons Sense

House of Commons · Written Ministerial Statement

Trade Sanctions Update

11 May 2022 · Department for International Trade

Proposed by Anne-Marie Trevelyan Con Berwick-upon-Tweed

Foreign Affairs

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • UK government announces new trade sanctions against Russia, including import tariffs and export bans.
  • Sanctions target 1.7 billion worth of Russian goods, increasing the total value of sanctioned products to over 4 billion.
  • Legislation to implement these measures will be laid in due course, with further details to be shared in June.

Issue summary

The statement discusses the announcement of new trade sanctions against Russia by the UK government.

Action requested

The UK has announced a package of import tariffs and export bans targeting £1.7 billion worth of Russian goods, bringing the total value of products under sanctions to over £4 billion. Legislation will be laid in due course to implement these measures, with further details on impacted products to be shared in June.

Key facts

  • The new package targets £1.7 billion worth of trade with Russia.
  • This brings the total value of products under full or partial sanctions to over £4 billion.
  • Import tariffs target £1.4 billion worth of goods, including certain metals and chemicals.
  • Export bans will impact over £250 million worth of trade in critical sectors like manufacturing and heavy machinery.
  • The proportion of Russian imports hit by restrictions is now over 96 percent, excluding gold and energy.
  • Over 60 percent of goods exports to Russia are under whole or partial sanctions.
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