News

Britain considers expanding sanctions on Russian seafood, affecting third-party trade channels

Seafood
United Kingdom
Russia
Regulation & Compliances
Market & Price Trends
Published Mar 1, 2024

Tridge summary

The UK government is contemplating expanding sanctions on goods made from Russian raw materials processed in third-party countries, as revealed by British Minister of Food, Agriculture and Fisheries, Mark Spencer. This follows a 14% rise in cod imports from China in 2023 and a 56% decrease in direct imports from Russia due to a 35% UK tariff. Unlike other major cod consumers, the UK has not yet imposed sanctions or additional tariffs on Russian whitefish raw materials processed in third countries. Meanwhile, the US has prohibited Russian seafood, including those processed in third countries, and the EU has levied tariffs on all Russian raw materials.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Recently, at the "UK-Norway Seafood Summit" held in London, England, a British official stated that the government was considering imposing sanctions on products made from Russian raw materials processed by third-party countries. ​ Mark Spencer, the British Minister of Food, Agriculture and Fisheries, said: "We are considering extending the Russian sanctions. We want to see how much cod will be imported through third countries. It is not yet certain whether China has purchased a large amount of Russian raw materials. If there is evidence of this, , we reserve the right to take further action." ​ Spencer said the British government would be monitoring this trade flow closely in the coming months. "If that proves to be the case and we start to see an increase in imports, then of course I reserve the right to take sanctions because I want to protect British fishermen," Spencer said. and trade relations with coastal neighbors.” ​ Trade data shows that in 2023, the UK imported ...
Source: Foodmate
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