Russia-Ukraine Crisis
Russia retaliates against Western sanctions with export bans: Report
Russia has retalited to the western sanctions to isolate it for invading Ukraine by imposing export bans on a host of products until the end of 2022, BBC reported.
The ban includes exports of telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber.
The economy ministry said further measures could include restricting foreign ships from Russian ports.
It said: "These measures are a logical response to those imposed on Russia."
The ministry added that the bans on countries that have "committed unfriendly actions" were "aimed at ensuring uninterrupted functioning of key sectors of the economy".
The export ban includes more than 200 products. The measures will last until the end of the year.
In a bid to punish Russia, Western nations have imposed ban notably on buying oil, and against billionaire oligarchs seen as close to President Vladimir Putin.
About 48 nations will be affected, including the US and in the EU.
In its order, the Russian government has allowed export for Georgia's breakaway regions of South Ossetia and Abkhazia and for members of the Russian-led Eurasian Economic Union.
Russia's Prime Minister Mikhail Mishustin said the ban would include exports of goods made by foreign companies operating in Russia. Items include cars, railway carriages, and containers, the BBC report stated.
Earlier, Russia's former president Dmitry Medvedev warned that assets owned by western companies that have quit Russia could be taken over by the government.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
