March 11, 2022
1 min read

Putin retaliates with export bans

The ban covers exports of telecom, medical, vehicle, agricultural and electrical equipment, as well as some forestry products such as timber….reports Asian Lite News

Russia has hit back at western sanctions for invading Ukraine by imposing export bans on a string of products until the end of 2022, BBC reported.

The ban covers exports of telecom, medical, vehicle, agricultural and electrical equipment, as well as some forestry products such as timber.

The economy ministry said further measures could include restricting foreign ships from Russian ports.

It said: “These measures are a logical response to those imposed on Russia.”

The ministry added that the bans on countries that have “committed unfriendly actions” were “aimed at ensuring uninterrupted functioning of key sectors of the economy”, BBC reported.

Governments in the West have imposed a string of sanctions on Russia, notably on buying oil, and against billionaire oligarchs seen as close to Russian President Vladimir Putin.

US President Joe Biden and French President Emmanuel Macron (Credit twitter @POTUS)

About 48 countries will be affected, including EU and the US.

Russian Prime Minister Mikhail Mishustin said the ban would include exports of goods made by foreign companies operating in Russia. The items include cars, railway carriages, and containers.

It comes as Russia’s former President Dmitry Medvedev warned that assets owned by western companies that have pulled out of Russia could be nationalised, BBC reported.

Firms have been leaving en masse or halting investment, including industrial and mining giants such as Caterpillar and Rio Tinto, Starbucks, Sony, Unilever and Goldman Sachs.

On Wednesday, Moscow approved legislation that took the first step towards nationalising assets of foreign firms that leave the country.

ALSO READ: Hospital in Ukraine hit by Russian shelling

Previous Story

 Zelensky refutes chemical weapon charge

Next Story

Krrish, Ravi enter finals of Asian Youth & Junior Boxing

Latest from -Top News

UK MPs Slam Pakistan Over Minority Abuses

Minority communities such as Shias, Christians, Hindus, and Ahmadis continue to face harassment, violence, and intimidation. In many cases, law enforcement either turns a blind eye or enables the attacks through inaction…reports

Words Won’t Stop China, Quad Must Deliver

 If the Quad aims to counterbalance China’s growing influence, it must expand its focus beyond the maritime domain and address the continental dynamics of the Indo-Pacific…writes Imran Khurshid Despite early concerns that

India Stays Neutral on Dalai Lama Succession

As exiled Tibetan spiritual leader approaches his 90th birthday, he asserted on Wednesday that there will be the 15th reincarnation…reports Asian Lite News Responding to the Dalai Lama’s recent remarks, India on

USAID cut could kill 14 million more deaths

Human rights advocates and global health experts have expressed alarm at the speed and scale of the cuts…reports Asian Lite News A new study published in The Lancet has warned that ongoing

Trump goes nuclear on Mamdani

Mamdani, a 33-year-old democratic socialist and son of Indian-Ugandan immigrants, secured a surprise victory over former governor Andrew Cuomo in the Democratic primary.;…reports Asian Lite News President Donald Trump has intensified his
Go toTop

Don't Miss

‘Eurostar the worst-performing rail service in Europe’ 

The report from the campaign group Transport and Environment (T&E)

Russia, Turkey to rival UK & Ireland to host Euro 2028  

Minimum requirements include having 10 stadiums available, with one having