Rishi Sunak has said sanctions against Russia “are not cost free” for British people and he cannot completely protect them “from difficult times ahead”.
The chancellor acknowledged sanctions imposed on Russia for invading Ukraine will add to the cost of living crisis ahead of energy bills soaring on 1 April.
He told Sky News’ Sophy Ridge on Sunday programme: “The actions and steps we’re taking to sanction Russia are not cost free for us here at home.
“I can’t pretend that it’s going to be easy, that government can solve every challenge or I can completely protect people against some of the difficult times ahead.”
Read more: How much does Russia export to the UK and why it will add to cost of living crisis?
Last week, the UK placed sanctions on nearly 400 more Russian oligarchs and entities and also banned luxury goods exports to Russia while raising tariffs on key Russian imports such as cereals, metals and vodka.
Mr Sunak added that he wants people to know he “will stand by them in the same way that I have done over the last couple of years to try and make a difference where I can”.
Energy prices to rise in a fortnight
In just under a fortnight’s time, on 1 April, the energy price cap will increase by 54% as global gas prices have soared over the past six months.
To help with the increase, the government announced last month households in Council Tax bands A-D in England will get a £150 rebate from April and all domestic electricity customers will get £200 in October off their energy bills, which will be repaid from people’s bills over five years from 2023.
Mr Sunak added: “Where we can make a difference, of course, we will. But I get that this is difficult.”
The Russians…
Source : skynews
