Putin signs emergency decree to ban exports

Russian President Vladimir Putin.| Photo: EFE/EPA/Alexei Nikolsky/Sputnik/Kremlin Pool

Russian President Vladimir Putin signed a decree on Tuesday of “special measures” in an attempt to safeguard the Russian economy. Among other things, the document authorizes the government to ban exports of products and raw materials.

The purpose of the decree is to “ensure the security of the Russian Federation and the uninterrupted operation of the industry” and will be in effect until December 31, 2022, according to Russian news agencies. Among other things, the decree prohibits “exporting outside the Russian Federation” products and/or raw materials, which will be specified in the list approved by the Russian government in the next two days.

These measures will not apply to “products and/or raw materials exported from Russia and/or imported into the country by citizens of the Russian Federation, foreign nationals and stateless persons for personal use”. With this decree, the Russian president gives the Executive “the authority to determine the details of the implementation of the planned measures” both for products or raw materials and for individuals or legal entities. The government will determine in two days the lists of foreign countries where the importation of certain products and raw materials will be prohibited.

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