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Britain has imposed an embargo on exports of dual-use goods to Russia


December, 15 2023
watermark Economic news

The UK has announced the introduction of a new package of sanctions against Russia, which includes an embargo on the export of dual-use goods, as well as prohibits the export of a number of goods that can be used for military or industrial purposes. 


This measure is aimed at reducing potential British exports to Russia and is estimated at 70 million pounds (more than $87.5 million).


In addition, Britain is introducing a separate law prohibiting the import of diamonds from Russia, as well as some metals. This measure is estimated at 67 million pounds (about $84 million).


Earlier, EC Chairman Ursula von der Leyen said that the parties would agree on the details of the 12th package of sanctions against Russia, under which a ban on diamond imports would be introduced. Russian President Vladimir Putin noted that «the West has become entangled in anti-Russian sanctions, and has reached the point of absurdity in its fantasies.»


Putin also recalled Europe's plans to impose a ban on the supply of needles and nails to Russia, stressing that «the less junk they bring, the fewer bed bugs there will be.»


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.