Vladimir Putin, the President of Russia, signed a law on sanctions against the U.S. and other foreign states hostile acts. The relevant document was made public on the website of Russia’s legal information.
This law provides Russian Government with an opportunity to impose response limits against the “hostile” states or organizations under the order of Russia’s President. In particular, it allows to suspend the cooperation in various fields; ban the import or export of certain goods.
The Government defines the exact list of the measures. Yet, these actions should not be applied to the vital goods, the equivalents of which are not produced in Russia, and to those products which the citizens bring for their own use.
Several MPs lead by Vyacheslav Volodin, Duma’s Spokesperson, are the authors of the bill. Earlier, this document was approved by the Russian Federation Council.
As it was reported earlier, the EU has officially extended the sanctions against 150 Russian citizens and 38 Russian companies in March till September 15, 2018.
These sanctions limit the access to the primary and secondary markets of the EU capital for five Russian financial institutions with state’s majority share within the registered capital and its subsidiaries, which perform beyond the EU, for three large Russian energy companies and for three defense firms. Besides, export and import of the weapon are banned along with the export of dual-use goods for the military needs or for the Russian army.
Russia has a restricted access to some technologies and service on the exploration and production of oil.