Russia bans exports of equipment, forestry products through end of year
Russia is banning exports of equipment, forestry products and other goods through the end of this year in response to western nations imposing sanctions against the country for its invasion of Ukraine.
Russia’s export suspension list, announced on Thursday, consists of more than 200 goods, according to Reuters, including telecom, medical, auto, agricultural, electrical and tech equipment. Exports of railway cars, containers and turbines are also on the list.
The Russian economy ministry did not, however, specify which types of forestry and wood products would be banned, according to Reuters.
The ministry said the export prohibitions “are a logical response to those imposed against Russia and are aimed at ensuring uninterrupted functioning of key sectors of the economy,” according to the news wire.
The new measures come as the Russian invasion of Ukraine enters its third week. The offensive began last month after Russian President Vladimir Putin ordered a military operation in Ukraine.
Most recently on Tuesday, President Biden announced that the U.S. would ban Russian oil, natural gas and coal imports.
The Kremlin on Thursday said Russia’s economy was experiencing a “shock” as a result of the west’s sanctions.
“Our economy is experiencing a shock impact now and there are negative consequences; they will be minimised,” Kremlin spokesperson Dmitry Peskov told reporters on a call, according to Reuters.
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