Putin takes measure to counter Western sanctions

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Among the measures, Russia will ban the outflow of foreign currencies in an amount exceeding the equivalent of $10,000 starting Wednesday…reports Asian Lite News

Russian President Vladimir Putin signed a decree introducing temporary economic measures to ensure the country’s financial stability, the Kremlin announced.

These measures will be taken in response to anti-Russian sanctions by the US, other countries and international organisations, according to the decree.

Among the measures, Russia will ban the outflow of foreign currencies in an amount exceeding the equivalent of $10,000 starting Wednesday, Xinhua news agency reported.

Effective since Wednesday, restrictions regarding transactions of securities, real estate and loans will be imposed on foreigners associated with countries that have taken anti-Russian actions.

On Monday, Putin inked a decree introducing “special economic measures” to cushion the impact of a new wave of Western sanctions amid Russia’s special military operation in Ukraine.

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