Putin signs decree banning or restricting exports from Russia, imports to Russia of certain products, raw materials

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Putin signs decree banning or restricting exports from Russia, imports to Russia of certain products, raw materials

MOSCOW. March 8 (Interfax) - Russian President Vladimir Putin has signed a decree introducing special economic measures in foreign trade for ensuring Russia's security.

The decree introduces certain special economic measures to be in effect until December 31, 2022.

These include "a ban on exports outside of the Russian Federation's territory and (or) imports to the Russian Federation's territory of products and (or) raw materials according to lists determined by the Russian government."

The decree also restricts "exports outside of the Russian Federation's territory and (or) imports to the Russian Federation's territory of products and (or) raw materials according to lists determined by the Russian government."

The decree stipulates that "the measures envisioned by Clause 1 of the decree shall not be applied to products and (or) raw materials exported outside of the Russian Federation's territory and (or) imported to the Russian Federation's territory by citizens of the Russian Federation, foreign citizens, and persons without citizenship for personal use."

The Russian government has been authorized to determine the specifics of employing the measures provided for by Clause 1 of the decree with regard to certain types of products and (or) raw materials, as well as with regard to certain legal entities and (or) individuals.

The government has also been given two days to compile lists of foreign states subject to the measures envisioned by Clause 1 of the decree.

The decree takes effect from the day of its official publication.

The document complements the measures stipulated by the February 28 decree on applying special economic measures in the wake of unfriendly actions going against international law by the United States and foreign countries and international organizations that have joined it and the March 1 decree on additional provisional economic measures to ensure the Russian Federation's financial stability.