To ask the Secretary of State for International Trade, what proportion of the total value of UK-Russian trade will be affected by the implementation of sanctions on Russia for the invasion of Ukraine.
This answer is the replacement for a previous holding answer.
Answered on
4 March 2022
The United Kingdom is in the top 20 of Russia’s trading partners and our action is coordinated with international partners, magnifying impact.
Data from the Office for National Statistics show that in the four quarters to the end of Q3 2021, Russia accounted for 1.3% of total United Kingdom trade, and 0.7% of the United Kingdom’s exports. In 2021, the commodity codes covered in Schedule 2A of the new legislation accounted for 11.8% of United Kingdom goods exports to Russia (HMRC). Although the situation is evolving, impact assessments have been published alongside the recent legislation which provide further detail.