Russian President Vladimir Putin orders retaliatory sanctions against West

May soon officially declare war on Ukraine: US, Western officials

Russia Ukraine crisis
Premium

Smoke rises above a plant of Azovstal Iron and Steel Works in the southern port city of Mariupol (Photo: Reuters)

Reuters
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

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 03 2022 | 10:50 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com