Russian President Vladimir Putin has signed a decree on retaliatory economic sanctions in response to the "unfriendly actions of certain foreign states and international organisations", the Kremlin said on Tuesday.
The document does not provide any details of which individuals or entities may be affected by the measures.
According to the decree, Russia will forbid the export of products and raw materials to people and entities that it has sanctioned.
The decree also prohibits transactions with foreign individuals and companies hit by Russia's retaliatory sanctions, and permits Russian counterparties not to fulfill obligations towards them.
Under the decree, the Russian government has 10 days to compile lists of foreign individuals and companies to be sanctioned, as well as to define "additional criteria" for a number of transactions that could be subject to restrictions.
Meanwhile, Russian President Vladimir Putin could formally declare war on Ukraine as soon as May 9, a move that would enable the full mobilization of Russia's reserve forces as invasion efforts continue to falter, US and Western officials believe.
May 9, known as "Victory Day" inside of Russia, commemorates the country's defeat of the Nazis in 1945. Western officials have long believed that Putin would leverage the symbolic significance and propaganda value of that day to announce either a military achievement in Ukraine, a major escalation of hostilities — or both.
Officials have begun to hone in on one scenario, which is that Putin formally declares war on Ukraine on May 9. To date, Putin has insisted on referring to the brutal monthslong conflict as a "special military operation," effectively banning words such as invasion and war.
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