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Thursday, March 21, 2019

British trade, cooperation affected by Russian intervention in Crimea

The British government on Tuesday updated information on its website for UK exporters on the impact of Russia's recent intervention in Ukraine on business.

"The UK government is keeping our economic engagement with Russia under close review," the UK government said. "Some bilateral cooperation and trade support activity is being affected. The UK government will continue to offer UK companies support and advice. Commercial decisions are ultimately for companies to make themselves on the basis of commercial risk, bearing in mind increased risk that high profile business engagement might be exploited by Russia for political reasons."

It advised UK companies encountering any obstacles to business in Russia or Ukraine to contact the Department for Business, Innovations & Skills (BIS) helpline.

"Russia remains an important trading partner for the UK," the British government said.

The UK exported $13 billion of goods and services to Russia in 2012.