Britain Imposes 35% Import Tariff on Loose Russian Diamonds
Russia’s isolation continues, as Britain imposes a 35% tariff on loose diamonds imported from Russia – part of a $1.3 billion package “of new and increased tariffs on luxury goods aimed at further isolating the country over its invasion of Ukraine,” IDEX Online reports.
The move, which went into effect starting April 26, increased the import tariff on diamonds from zero to 35% and includes all diamonds from Russia and Belarus “whether or not worked, but not mounted or set.”
When announcing the sanctions, International Trade Secretary Anne-Marie Trevelyan said: “The UK continues to stand shoulder-to-shoulder with Ukraine and is working closely with our international partners to inflict maximum damage to Putin’s regime, reducing the resources and funds he needs to carry out this illegal war.”
Last month, the British government included Alrosa in a Russian-targeted list of 65 businesses and individuals sanctioned in a move to “cut off vital industries fueling Putin’s war machine”.