Putin signs decree on Russia's response to sanctions

MOSCOW

Russian President Vladimir Putin signed a decree Tuesday imposing retaliatory economic measures in response to actions by "unfriendly countries."

According to the decree, which was published on the Kremlin’s website, the measures are being taken in order to protect the national interests of Russia due to the "unfriendly and illegitimate actions" of the US and other countries and international organizations that have joined them "aimed at illegally restricting or depriving the Russian Federation, its citizens and Russian legal entities of property rights."

The new rules prohibit state authorities at all levels as well as organizations and individuals under Russia's jurisdiction from making transactions, including the conclusion of foreign trade contracts, with legal entities, individuals and enterprises under their control in relation to which special economic measures are applied.

The decree also bans the fulfillment of obligations to persons and entities under sanctions and financial transactions with them.

In addition, it bans the export of raw materials or products mined or produced in Russia if their end users are sanctioned individuals or entitles.

The government is instructed to prepare within 10 days a list of individuals and entities falling under new measures and to work out other technical issues.

At the same time, the Ministry of Finance and the Central Bank of the Russian Federation are granted the right of selective application of the new decree.

At least 3,193 civilians have been killed and 3,353 others injured in Ukraine since the war with Russia began on Feb. 24, according to UN estimates. The true toll is feared to be much higher.

More than 5.5 million people have fled to other countries, with some 7.7 million people internally displaced, data from the UN refugee agency shows.