Russia Bans Export of 200 Items After Sanctions Hit Economy

Russia has imposed an export ban for more than 200 products until the end of 2022 after Western sanctions over the invasion of Ukraine hit the economy.

The ban covers exports of telecoms, medical, auto, agricultural, tech and electrical equipment. It also suspended exports of forestry products to nations that “are undertaking hostile actions against Russia”.

The government said in its website that the measure was “necessary to maintain stability on the Russian market.”

The list of suspended exports, however, fell short of including Russia’s biggest exports, energy products and raw materials.

Russia’s regional allies, members of the Eurasian Economic Union (EEU), are exempted from the suspension, although Interfax news agency had reported that grain exports to the EEU may be temporarily halted until Aug. 31.

Sanctions imposed by the U.S. and its allies have largely isolated Russia from the rest of the world, threatening to cripple its economy. The ruble has lost more than half of its worth since the year started.


© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.