The sanctions – announced last week by International Trade Secretary Anne-Marie Trevelyan and Chancellor of the Exchequer Rishi Sunak - will also includes import bans on wood products, silver and other high-end products.
Tariffs have also increased by 35 percentage points on around £130m worth of products from Russia and Belarus, including diamonds and rubber.
Trevelyan said: "The UK continues to stand shoulder-to-shoulder with Ukraine and is working closely with our international partners to inflict maximum damage to Putin’s regime, reducing the resources and funds he needs to carry out this illegal war.
"We are taking every opportunity we can to ratchet the pressure to isolate the Russian economy and these further measures will tighten the screws, shutting down lucrative avenues of funding for Putin’s war machine."
Sunak added that the 'significant sanctions' will bring the UK's total import tariffs and bans on Russian goods to more than £1bn, and impose 'further economic pain on Putin’s economy for his barbaric and unjustified attacks on a sovereign nation'.
The UK has already banned the import of iron and steel products from Russia and Belarus, alongside stopping luxury goods exports to Russia, among other measures.