The Department for International Trade said new import tariffs will apply to goods including platinum and palladium. The metals are used to make parts for mobile phones and computers.

Export bans will target chemicals, plastics, rubber and machinery. It takes the value of products subject to UK sanctions to more than 4 billion pounds.

The new import tariffs will cover 1.4 billion pounds of goods while the planned export bans are intended to impact products worth more than 250 million pounds in sectors of the Russian economy most dependent on UK goods.