Economy 11:46 09/03/2022 World

Putin orders import-export ban on certain products

Russian President Vladimir Putin has issued an order to restrict or prohibit import and export of certain products and raw materials from Russia in 2022 with product lists to be defined by the government, TASS reported, citing the decree on special foreign economic measures aimed to ensure Russia’s security.

"Ensure implementation of the following special economic measures until December 31, 2022: export and import ban of products and/or raw materials in accordance with lists to be defined by the government of the Russian Federation," the document says, adding that a separate list will define goods, the export and import of which will be restricted.

The government will have to define the list of states to be covered by these decisions within two weeks. These restrictions will not cover products or raw materials being transported by citizens for their personal needs.

Furthermore, the cabinet will be allowed to set particularities of implementation of these measures in regards to certain products or certain people or companies.

The new measures are being introduced in addition to the measures outlined in the previous presidential decrees. Previously, Russia imposed special economic measures in response to unfriendly actions of the US and other states and international organizations, as well as temporary economic measures aimed at ensuring Russia’s financial stability.



Source Panorama.am
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