The UK bans exports of banknotes, items for maritime, oil refining sectors to Russia
New Delhi: A new ban on exports of several product categories and technological solutions to Russia entered into force in the UK on Thursday, according to the document published on the British government’s website.
The restrictions apply to banknotes, “goods and technology” for the maritime sector, oil refining, and products related to “chemical and biological weapons”, the document says.
The British government introduced “prohibitions on the export to, or for use in, Russia, of Sterling or EU denominated banknotes; as well as prohibitions on the making available, supply, or delivery of such banknotes to a person connected with Russia; and on the making available of such banknotes for use in Russia”. “Export to, or use in Russia of jet fuel and fuel additives” was also banned.
At the same time, a new ban on imports from Russia that generate profit has also entered into force in the UK on Thursday. Thus, the UK introduced “Prohibitions on the import, acquisition or supply and delivery of revenue generating goods that originate in or are consigned from Russia as well as related technical assistance, financial services, funds, and brokering services. Prohibitions on the provision of technical assistance, and financial services, funds, and brokering services relating to iron and steel imports.”
The UK government also noted that in rare cases the authorities can still issue licenses for the export of sanctioned categories of goods to Russia. “There are some exceptions to the prohibitions, which are set out in detail in the legislation, and licenses can be granted in very limited circumstances,” the statement said.
Restrictions on Russian imports to the UK do not apply to goods shipped before June 23, 2022, and imported before July 10, 2022.
(Vinayak)
