Russia: Trade
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what kind of shipping trade (a) to and (b) from Russia is not covered by the sanctions regime.
Answered by Stephen Doughty
In response to Russia's invasion of Ukraine, the UK has introduced an unprecedented package of sanctions. Sanctions have deprived Russia of over $400 billion since February 2022. Sanctions on trade to and from Russia are designed to undermine Russia's war effort by inflicting economic cost on the regime and denying it the equipment, services, and technology critical for its military development. Russian imports into the UK have fallen by more than 99 per cent, and UK exports to Russia are down by more than 75 per cent. Since July, the UK has sanctioned over 125 oil tankers, as well as a number of vessels carrying Liquefied Natural Gas (LNG) and military goods.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →