Russian President Putin signed a decree on retaliation against the West

According to the decree of Russian President Vladimir Putin on May 3, this document prohibits state agencies at all levels, organizations and individuals under the jurisdiction of the Russian Federation from carrying out transactions, the announcement of the Kremlin said. Services and obligations to foreign individuals and legal entities have been subject to restrictive measures of retaliation, as well as a ban on the export of products and raw materials to individuals and entities on the sanctions list. penalty in this country.

These measures “relate to actions that are unfriendly and contrary to international law by the United States and other countries and international organizations that have joined them to illegally strip rights of the Russian Federation, citizens of the Russian Federation and Russian legal entities with respect to property and restrictions on their ownership”.

This document prohibits state agencies at all levels, organizations and individuals under the jurisdiction of the Russian Federation from conducting transactions and obligations with respect to foreign individuals and legal entities that have been subjected to sanctions. retaliate.

Russian President Vladimir Putin speaks during his annual press conference in Moscow, Russia, December 23, 2021. (Photo: AP)

President Putin has given members of the Russian cabinet 10 days to determine the list of individuals imposed economic sanctions from Moscow based on the principle of “reciprocity”.

Measures aimed at protecting the national interests of the Russian Federation and in accordance with the Federal Law “On Special Economic Measures and Compulsory Measures” of Russia.

Russia’s retaliatory move comes after the United States and the European Union (EU) imposed several rounds of unprecedented tough economic sanctions on Russia related to the special military operation it developed. active in Ukraine from February 24.

As a result, the assets of the Central Bank of Russia and many other institutions and entrepreneurs were frozen abroad. In addition, Moscow is cut off from the currency market dominated by the dollar and the euro. A series of foreign businesses also stopped doing business with Russia.

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