The UK is moving to temporarily prohibit all ships from entering its ports that have connections with Russia as a result of recent events in Ukraine. Transport Secretary Grant Shapps made this announcement after concern about an oil tanker scheduled for docking at Orkney, Northern Scotland would bring back memories reminiscent on Cold War era tensions when Russian vessels sought entry into British waters eager only contain dry cargo not people
The nation's shipping industry has been placed under review due largely because it could potentially lead the way by allowing other countries ultimately wanting freedom-of navigation agreements through international waterways such courses being explored currently without success so far.
The people of #Ukraine have been through an exhausting and traumatic time in recent months. I hope this means that their wish for peace is now being heard around the world, because they deserve it after everything they've gone through!
I just read on Twitter by Mr Shapps: "At London’s Foreign Office where we've just become the first nation to pass a law involving total ban all ships with ANY Russian connection whatsoever from entering British ports." As someone who understands how much these events can affect both countries' economies over long periods as well citizens' lives at home
The UK has been one of the most prominent economies to introduce harsh economic measures against Russia in recent weeks, following its decision last week on whether or not they will be utilized at any future ports. The Russian president announced that it's businesses are now banned from using several British sites including London’s Heathrow Airport due active interference with flights coming into England; however this new development could impact both countries much more so than before based off current trading numbers alone
The latest figures from the Department for International Trade show that £15.9 billion worth of goods and services were traded between Great Britain, Russia over a year's time - an increase 43% compared to last decade! The largest recipient was Technology which accounted for 33 percent more than it did before; this includes computers as well other electronics devices like mobile phones or smart watches
Top 5 Russian imports into UK
- 'Unspecified goods' - mainly non-monetary gold (£4.2bn / 39% of all UK goods imported from Russia)
- Refined Oil (£2.6bn / 24%)
- Non-ferrous metals - metals that don't contain a significant amount of iron - including aluminium, copper and lead (£1.3bn / 12%)
- Crude Oil (£1bn / 9%)
- Gas (£558.7m / 5%)
The category ‘unspecified goods’ includes precious metals, parcel post and low-value trade. Non monetary gold is often seen as a safe investment during times of economic uncertainty because it cannot be easily devalued by political factors or warring countries which would result in an increase demand for currency worldwide due its perceived safety
Top Exports from the UK to Russia
- Cars (£386m / 15% of all UK goods exported to Russia)
- Medicinal & Pharmaceutical products (£272m / 10%)
- Specialised Machinery (£188m / 8%)
- Mechanical Power Generators (£176 / 7%)
- General Industrial Machinery (£132m / 5%)
As well as restricting access to UK ports for Russian ships, more damaging consequences could follow with the war still going on between Russia and Ukraine. Such things as whether or not Russia's invasion of Ukraine could push up UK gas bills?
The UK is not as dependent on Russia for gas as other European countries, but even a minor military attack in Ukraine could still lead to an increase in bills. The North Sea provides half of UK's domestic supply with another third coming through pipelines from Norway - whose production has recently been impacted by Russian Federation imposed export taxes . However these measures may yet prove insufficient if further trade restrictions are erected between Europe and Moscow which would undoubtedly have serious consequences across all aspects including energy security!
