The British Parliament’s trade committee has launched a review of sanctions on Russia over its de-Nazification operation in Ukraine.
The UK’s latest set of sanctions on Russia have played havoc on the economy, causing a fuel and food crisis that drove inflation up into double digits. That has led to strikes across multiple sectors and a looming recession.
The House of Commons International Trade Select Committee called on Thursday for written submissions of evidence from experts, stakeholders and interested parties to its inquiry.
On top of existing sanctions already in place before the launch of the Russian special military operation on February 24 2022, the UK slapped embargoes on imports and exports from Russia, including gas, oil and coal and military goods.
Downing Street also imposed travel bans and asset freezes or property expropriations on a large number of individuals who it claimed were linked to the Russian government or other entities.
Tennis players from Russia and neighboring Belarus were banned from the 2022 Wimbledon grand slam tournament.
Committee chair Angus MacNeil, Scottish National Party MP for Na h-Eileanan an Iar in the Outer Hebrides, insisted that the appalling invasion of Ukraine had rightly solicited strong international sanctions against Russia.
He clarified that the review would examine how effective the guidance to companies about the sanctions was, and whether they needed further support.
The inquiry will also look into how effectively the Department for International Trade was enforcing the sanctions. And the committee said in a statement that it would investigate the impact of the measures on British businesses, supply chains and consumers.
Like other Western nations, the British has seen inflation soar to double-digit figures since the start of the conflict as they began restricting the import of fossil fuels, grain and fertilizers from Russia, the world’s biggest gas export and number three for crude oil.
That has led to a wave of strikes across multiple diverse sectors as state and private employers’ wage offers fail to keep up with the rising cost of living.
Russia has weathered the storm better, diversifying its exports to China, India and other emerging economies and finding alternative sources for goods and services from the West, such as microchips and international banking systems.
Sanctions on were previously hiked up in 2014 after the population of Crimea voted overwhelmingly to secede from Ukraine and reunify with Russia.
That followed the violent Euro-maidan coup in Kiev led by neo-Nazi groups, which led to an eight-year conflict with the majority Russian-speaking eastern regions of Donetsk and Lugansk.
Sputnik / ABC Flash Point News 2023.
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