UK sanctions ban Russian metals, including diamonds

2023-05-20 08:15:03, Kosova & Bota CNA

Britain said it would freeze imports of Russian diamonds, copper, aluminum and nickel on Friday and announced a new wave of sanctions against Russia, targeting companies linked to alleged theft of Ukrainian grain.

But the ban will have little impact as Russian exports of these goods to the UK have already fallen following the imposition of tariffs.

Last March, the British government imposed an additional 35% tariff on imports of Russian copper, lead and aluminium.

"We will pass a law this year to ban imports of Russian diamonds and end all imports of copper, aluminum and nickel of Russian origin," British Prime Minister Rishi Sunak said in a statement.

The United Kingdom has already sanctioned 1,500 individuals and entities, freezing more than $22.7 billion of UK assets and sanctioning trade in goods between Britain and Russia worth more than 20 billion pounds, the statement said.

The data shows that Britain imported only a small proportion of its aluminium, nickel and diamonds from Russia. Last year it did not import any copper from Russia.

Russia is a major producer of aluminum, nickel and diamonds. The plans to ban Britain's imports come as G7 leaders discuss how to track Russia's diamond trade with a view to imposing restrictions at a later stage.

'SUSPICIOUS ENTITIES'

"The global market is not static, it is rich in alternative destinations," Kremlin spokesman Dmitry Peskov told reporters on Friday when asked about possible diamond restrictions in the European Union.

Britain has decided to sanction a further 86 individuals and entities as part of a new crackdown on what it called "suspicious individuals and entities" linked to the theft and resale of Ukrainian wheat, an allegation Russia has denied.

Both Russia and Ukraine are major wheat exporters to Africa and the Middle East.

"This grain and other agricultural goods are said to have been stolen from warehouses and fields in occupied territories in Ukraine," the UK Foreign Office said in a statement.

Great Britain also sanctioned the company "Sun Ship Management", which it said was an entity related to "Sovcomflot", the largest Russian state-owned shipping company./ VOA