The restrictions apply to the export of technological and medical tools, automobiles and agricultural equipment

Russian President Vladimir Putin on Wednesday prolonged a decree imposing restrictions on commerce in sure varieties of items and uncooked supplies with ‘unfriendly’ international locations that positioned sanctions on Moscow over the Ukraine battle.

The presidential decree from March, issued shortly after the beginning of Russia’s army operation in Ukraine, was set to run out on December 31, 2022, however was prolonged by one other yr to the tip of 2023.

The Russian authorities accepted the checklist of products that fall beneath the ban again in March. It included greater than 200 varieties of items and tools, reminiscent of technological, telecommunications and medical tools, automobiles and agricultural equipment, and electrical tools. The export of those items was quickly restricted to all overseas international locations, except for Russia’s companions within the Eurasian Financial Union, Abkhazia, and South Ossetia. As well as, the export of sure varieties of timber to ‘unfriendly’ international locations was additionally banned. The ban doesn’t goal the transit of products and people taken overseas for private use, in addition to items made in Russia and bearing a Russian certificates of origin.

Individually, Putin accepted on Wednesday an inventory of 45 Russian banks which might be quickly prohibited from finishing up transactions with shares and fairness stakes that belong to residents of ‘unfriendly’ international locations. The checklist contains the Russian subsidiaries of Raiffeisenbank, Commerzbank, Credit score Suisse Financial institution, UniCredit Financial institution, and Deutsche Financial institution. The ban shall be in place till December 31, 2022, however transactions could also be allowed if the shareholder is granted a particular allow from the president.

The checklist of nations deemed ‘unfriendly’ to Russia includes the US, UK, the member states of the EU, Albania, Andorra, Australia, the Bahamas, Iceland, Liechtenstein, Canada, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, Taiwan, Ukraine, Switzerland, and Japan.

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