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UK Introduces New Russia Sanctions

Somto NwanoluebySomto Nwanolue
May 19, 2023
in News
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UK Introduces New Russia Sanctions
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Britain has just disclosed new sanctions against Russia’s minerals sector, mainly targeting aluminum, diamonds, copper, and nickel imports in a bid to sever Moscow’s ability to fund the war in Ukraine.

London had made this announcement ahead of a G7 summit in Hiroshima, Japan, stating that it would begin banning Russian diamonds and targeting several parties involved in Putin’s military-industrial power.

Russia’s diamond trade is calculated to be worth $4-5 billion a year, 

The Hiroshima summit is expected to usher in a series of new sanctions on Russia, including US measures that will place 70 additional Russian and foreign entities on a trade blacklist.

The G7 as a whole will also work to tighten already existing sanctions, shut loopholes, and commit to keeping Russian assets frozen until the war ended in Ukraine.

Tags: and nickel imports in a bid to sever Moscow’s ability to fund the war in Ukrainecopperdiamondsmainly targeting aluminumunited kingdomussia’s minerals sector
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

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