Update: Russian Sanctions

BY:

Gail Leeson

25 February 2022

As the Ukraine crisis quickens and nations respond by implementing Russian Sanctions, UK businesses will be considering how the developing measures will directly affect their trade with Russia

The most publicised early measures were financial but have quickly developed into restrictions to exports of equipment and manufactured goods. UK businesses exporting to the oil and gas, aerospace and transport industries will be impacted.

As we see prices at the petrol stations soar, we may soon see the prices of staples such as bread increase, impacted in the first instance by the increase in haulage costs due to price of fuel, then by restrictions on Russian grain - Russia is major source of imported wheat.

https://www.gov.uk/government/publications/financial-sanctions-ukraine-sovereignty-and-territorial-integrity

https://www.gov.uk/government/collections/uk-sanctions-on-russia

Any companies concerned about their business with Russia or Ukraine to contact the DIT Export Support Service the dedicated online service or call 0300 303 8955

Ask the export support team a question - GOV.UK (www.gov.uk)

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