Putin signs decree ordering retaliatory sanctions against the West

Retaliatory sanctions against the West ordered by Vladimir Putin as he signs a decree

The Kremlin announced this Tuesday, May 3, that a new decree has been signed by Russian President Vladimir Putin. This document is reportedly a call for retaliatory economic sanctions, responding to recent “unfriendly actions of certain foreign states and international organisations”

According to the decree, the export of raw materials and products to people and entities now sanctioned by the Kremlin is forbidden. No details are provided in the document in relation to which entities or individuals are expected to be affected.

Transactions with foreign companies or individuals due to be named by these Russian sanctions are also prohibited under the terms of the decree. It will also permit any Russian counterparties not to fulfil any existing obligations towards names on the list.

Lists of foreign companies and individuals to be sanctioned must now be compiled in the next ten days by the Russian government, to fulfil the terms of the decree. ‘Additional criteria’ must be included, to pinpoint certain transactions that could be subjected to restrictions, as reported by geo.tv.

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