August 11, 2022 17:50 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Himachal rain: 2 women killed in Kullu house collapse | Congress announces fresh protests against price hike | Jagdeep Dhankhar takes oath as India's 14th Vice President | CBI arrests Mamata's aide Anubrata Mondal in cattle smuggling case | Kashmir: Three soldiers killed in Army camp attack, two terrorists shot dead
Russia retaliates against Western sanctions with export bans: Report Russia-Ukraine Crisis
Image Credit: Andy Li via Unsplash

Russia retaliates against Western sanctions with export bans: Report

India Blooms News Service | @indiablooms | 11 Mar 2022, 02:39 pm

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.

Related Images
FOHMA addresses press conference 01 Jan 1970, 05:30 am
Related Videos
PM Modi on Union Budget 2022-2023 01 Feb 2022, 06:28 pm
IBNS Live Business Chat 30 Dec 2021, 05:53 pm