// The UK government will ban luxury exports into Russia on goods such as high-end fashion
// Russian imports such as vodka will be subject to import duty hikes as the G7 seek to further isolate the country following its invasion of Ukraine
The UK government is to place an export ban on luxury goods sold into Russia and hike import tariffs on goods such as vodka.
High-end fashion is among the goods that will no longer be exported to Russia as part of the West’s attempt to isolate the country following its invasion of Ukraine.
The government will set out a full list of what goods are impacted by the export ban, which is part of coordinated action by the G7 countries, but confirmed luxury fashion would be on the list.
Meanwhile, import duties on Russian goods will be hiked 35 percentage points and will hit £900m worth of key products such as Russian vodka, metals, fertilisers and other commodities.
READ MORE: Can global brands justify still trading in Russia?
Chancellor Rishi Sunak said: “Our new tariffs will further isolate the Russian economy from global trade, ensuring it does not benefit from the rules-based international system it does not respect.”
Britain exported £193m of goods to Russia in January alone and £3bn in 2021.
Many UK retailers including Burberry, Next and Asos had suspended their Russian operations while a raft of chains such as Tesco, Asda and Co-op have removed products from the country from their shelves.
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