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Putin decided to curb exports in response to Western sanctions imposed on Moscow.
Russia has banned the export of more than 200 types of goods and raw materials in a bid to mitigate the impact of Western sanctions.
These exports include equipment for Telecommunications, agricultural, electrical and technological.
Russia may also ban some exports of timber and forest products to countries that have “committed hostilities,” according to the Economy Ministry, which did not specify exactly which products it was referring to.
“These measures are a reasonable response to those imposed against Russia and are aimed at ensuring the continued functioning of key sectors of the economy,” the ministry said.
About 48 countries will be affectedincluding those that are part of the European Union and the United States.
image source, Getty Images
Russia has banned exports of automotive equipment, among other products.
Other items subject to the ban include cars, railcars, containers and turbines.
These events come after harsh Western sanctions on Russia’s financial and energy system due to its invasion of Ukraine.
A growing number of Russian oligarchs have also been affected by asset freezes and travel bans.
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