Putin signs new degree to restrict import/exports of certain products

The order however makes it clear that the order does not apply to products and raw materials exported from Russia or imported into the country by Russian citizens, foreign citizens and stateless persons for personal use.

Putin signs new degree to restrict import/exports of certain products

New Delhi: Intending to introduce more steps for strengthening the security of Russia in trade, Russian President Vladimir Putin has signed a decree in this regard.

The international news agencies are saying that the decree permits Russia to impose restrictions on exports and imports of certain products to Russia from specified countries.

However, the list of the productions that come under the restrictions has not been made public yet.

The order read that "for the purposes of ensuring the security of the Russian Federation and uninterrupted functioning of manufacturing industry, I order to enforce the following special economic measures until December 31, 2022, that includes ban on the export from and import to the Russian Federation of products and raw materials, according to the list determined by the Russian government".

The order however makes it clear that the order does not apply to products and raw materials exported from Russia or imported into the country by Russian citizens, foreign citizens and stateless persons for personal use.

The decree said that the government will be allowed to prepare norms for implementation of these steps in regards to certain products or certain people or companies.

It may be noted that the new restrictions have been imposed in addition to the measures outlined in the previous decrees of the government.

In the past, Russia had imposed special economic measures in response to unfriendly actions of the US, and also for Russia’s financial stability.

The new decree has been signed to ensure Russia’s security and uninterrupted operation of the industry. The decree has been in effect since the moment of official publication.