It said the move would “ensure that Britain is not supplying Putin’s regime with information that could lead to increased tax benefits for Russia.”
Britain said on Thursday it was suspending an agreement with Russia on the sharing of tax information, the latest in a series of sanctions aimed at squeezing Moscow for an invasion of Ukraine.
“The UK has suspended all exchange of tax information with Russia and Belarus under the UK Exchange of Information Agreements,” a government statement said.
It said the move would “ensure that Britain is not supplying Putin’s regime with information that could lead to tax benefits or yield increases for Russia.”
The Treasury’s financial secretary, Lucy Fraser, said: “Along with other economic measures that we have already taken, this move will help starve Putin of the resources he needs to fuel his barbaric campaign of violence.” “
Britain has imposed an asset freeze and travel ban on more than 1,000 Russians and increased tariffs on imports of goods such as vodka and steel in retaliation for the February 24 invasion of Moscow.
It has said it will cut Russian oil imports by the end of this year.
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