The UK government has been urged to completely ban luxury goods exports to Russia in a bid to combat the “Mayfair lifestyle” of President Vladimir Putin and his inner circle.
Labour’s Nick Thomas-Symonds said sanctions should be imposed on high quality jewelery and designer clothes.
Government ministers have vowed to “use every means at our disposal” to target oligarchs.
But they face calls to extend the sanctions.
Since Russia invaded Ukraine last week, Britain has frozen the bank accounts of some wealthy individuals, including Mr Putin and some people associated with him.
It has also banned Russian airline Aeroflot from landing its planes in the UK and locked several banks out of the UK financial system.
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Britain’s Leveling Up Secretary Michael Gove is studying the possibility of seizing British property owned by Russian oligarchs with links to Mr Putin.
The BBC understands Mr Gove raised the idea with Cabinet colleagues last week as part of a range of possible further sanctions related to trade and visas, but no final decision has been made.
Recent research by campaign group Transparency International suggests £1.5bn in British property has been lost since 2016.
Conservative MP Tom Tugendhat, chairman of the Commons Foreign Affairs Committee, tweeted Thursday: “We have homes that need to be confiscated. Now.”
Liberal Democrats are demanding that oligarchs’ property be confiscated and turned into temporary shelters for Ukrainian refugees.
Meanwhile, authorities in France and Germany have seized superyachts owned by Russian tycoons Igor Sechin and Alisher Usmanov.
Labor MP Nick Thomas-Symonds, spokesman for the opposition on international trade, said in the House of Commons that current British sanctions do not go far enough, calling for a “total ban on exports of luxury goods” to Russia… meaning that Putin and his inner circle “can’t live a Mayfair lifestyle in Moscow”.
He added that “the UK should enact a comprehensive ban “whether it’s clothing, jewelry or diamonds” to stop Putin and his inner circle from living in luxury while committing barbaric, evil acts against the people be committed in Ukraine”.
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International Trade Secretary Anne-Marie Trevelyan did not commit to such a move, but said: “We will continue to work across governments to ensure we have our British powers … to tighten the screws so that Putin and his regime are finding it increasingly difficult.” to keep their military campaigns going, but also that they will no longer have access to their funds.”
“We will continue to use every means at our disposal to ensure that Putin fully understands the absolutely outrageous behavior he is committing.”
Russia was Europe’s fifth largest retail market in 2021, valued at £337.2 billion.
But since the invasion of Ukraine began, sportswear brand Nike has said it cannot guarantee delivery to Russian customers, while fashion house Burberry has suspended deliveries and says it is “difficult to fulfill orders” at the moment.
Automakers Jaguar Land Rover, Aston Martin and Rolls-Royce have suspended deliveries of vehicles to Russia because of the conflict.
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