UK extends Russian export ban to diamonds, metals over Ukraine conflict

UK PM Rishi Sunak clinches 'historic' Hiroshima Accord on Japan visit London: British Prime Minister Rishi Sunak and his wife Akshata Murty arrived in Japan on Thursday for the G7 Summit, on the sidelines of which he clinched a new so-called “Hiroshima Accord” for greater UK-Japan economic, security and technology collaboration. This new UK-Japan global strategic partnership is being seen as a counterbalance to Chinese dominance in the region and also includes a Semiconductors Partnership to pursue “ambitious” R&D cooperation and skills exchange to bolster supply chain resilience in the key sector. The UK also confirmed that its Carrier Strike Group (CSG) warship will return to the Indo-Pacific in 2025, following a maiden voyage to the region including India in 2021, as Sunak became the first British Prime Minister to visit Hiroshima – the site of the Second World War atomic bombing. “It is a privilege to be visiting Tokyo and Hiroshima at this historic moment in the United Kingdom's relationship with Japan,” the British-Indian leader said. “Prime Minister [Fumio] Kishida and I are closely aligned on the importance of protecting peace and security in the Indo-Pacific and defending our values, including free and fair trade. The Hiroshima Accord will see us step up cooperation between our armed forces, grow our economies together and develop our world-leading science and technology expertise. It marks an exciting next phase in the UK and Japan's flourishing partnership,” he said. The Hiroshima Accord will cover agreements on defence, trade and investment, science and technology collaboration, and joint work on tackling global issues like climate change. Downing Street said Japan's “pivotal role” in the Indo-Pacific makes strong relations with the nation central to the UK's security and prosperity. In Tokyo, Sunak visited a naval base to confirm new UK-Japan defence cooperation which includes doubling UK troop numbers in upcoming joint exercises and agreeing on a formal Consult Clause, whereby the UK and Japan commit to consult each other on important regional and global security issues and consider measures in response. The CSG fleet, consisting of an aircraft carrier, escorts and aircraft, to be deployed in 2025 will work alongside the Japanese Self-Defence Forces and other regional partners to help defend peace and stability in the Indo-Pacific, Downing Street said. Meanwhile, it was also announced that leading Japanese businesses have committed to invest almost GBP 18 billion in businesses and projects across the UK. “These new investments are a massive vote of confidence in the UK's dynamic economy, from some of Japan's top firms. Working with the government and British industry they will create the kind of high-quality, reliable jobs and transformative local investment we are delivering around the country,” said Sunak. The British prime minister added that the “sky's the limit” for British and Japanese businesses and entrepreneurs as bilateral trade ties grow, including through the Japan-included Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade bloc which the UK had joined recently. According to official statistics, Japan is the UK's fifth largest investor with GBP 92 billion invested in the UK, and trade in goods and services was worth GBP 27.7 billion last year. The new investments announced this week include funding for offshore wind, low-carbon hydrogen and other clean energy projects from Japanese trading house Marubeni. Mitsubishi Estate and Mitsui Fudosan, two of the largest real estate companies in Japan, confirmed plans to invest in affordable housing, high-quality office space and a life-science laboratory in the UK. While Sumitomo Corporation intends to expand its UK offshore wind projects, Sumitomo Electric Industries has also announced its decision to build a strategically important high-voltage cable manufacturing plant in the Scottish Highlands. The UK and Japanese governments also unveiled a new Renewable Energy Partnership, which includes building business partnerships to accelerate the deployment of clean energy. PTI

Pic - Twitter account of Rishi Sunak

London: The UK Friday extended its package of sanctions against Russia with a ban on Russian diamonds, an industry worth $ 4 billion in exports in 2021, as well as imports of Russian-origin copper, aluminium and nickel and sanctioned 86 more people and entities linked with the country over the Russia-Ukraine conflict.

British Prime Minister Rishi Sunak, who is in Japan for the G7 Summit, said the trade measures and individual sanctions will hit Russian President Vladimir Putin’s key revenue streams.

During talks with world leaders in Hiroshima – the site of the World War II atomic bombing, Sunak warned against complacency in defending democratic values and standing up to autocratic regimes.

“For the sake of global peace and security, we must show that brutal violence and coercion does not reap rewards,” said Sunak.

“As today’s sanctions announcements demonstrate, the G7 remains unified in the face of the threat from Russia and steadfast in our support for Ukraine. We are meeting today in Hiroshima, a city that exemplifies both the horrors of war and the dividends of peace. We must redouble our efforts to defend the values of freedom, democracy and tolerance, both in Ukraine and here in the Indo-Pacific,” he said.

The latest announcement follows Sunak’s meeting with President Volodymyr Zelenskyy during a surprise visit to London earlier this week when he confirmed new military aid and stressed the importance of long-term international support for Ukraine.

The leaders discussed Ukraine’s path to deeper political partnership and increased interoperability with the G7 and NATO allies, Downing Street said.

“Putin and his supporters must – and will – pay the price for their illegal invasion of Ukraine. That’s why through today’s new sanctions we are increasing the economic pressure on Putin – making it harder for him to wage his illegal war and inflict untold suffering on innocent Ukrainians,” said UK Foreign Secretary James Cleverly.

“We will continue to increase this pressure and crack down on all emerging forms of circumvention until Ukraine prevails and peace is secured.  Our support for Ukraine is, and will remain, resolute for as long as it takes,” he said.

The latest set of 86 sanctions target individuals and organisations connected to Russia’s energy, metals, defence, transport, and financial sectors, which the British government said is aimed at ramping up pressure on Putin’s remaining revenue and attempts to use these sectors to support the military machine.

The UK Foreign Office said the package builds on the UK’s recent sanctions against Russia, including implementing new trade measures to ban every item used on the battlefield to date and designations to crackdown on “financial fixers and oligarch enablers” last month.

PTI

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