Russia Bans Some Exports in Response to Sanctions, Report Says
Russia will ban exports of a range of goods and products to retaliate against Western sanctions, including telecommunication, medical, auto, agricultural and electrical products, as well as technology equipment and some forestry products, Reuters reported March 10 (see 2203080065). Russia will ban the exports until the end of the year and will also restrict certain foreign ships from entering its ports. "These measures are a logical response to those imposed against Russia and are aimed at ensuring uninterrupted functioning of key sectors of the economy," the Russian economy ministry said, according to the report.
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In a separate move, Russia also announced last week a suspension of grain exports to the Eurasian Economic Union until Aug. 31 and a ban on sugar exports to third countries until Aug. 31, Reuters reported. The country won’t ship wheat, meslin, rye and barley to EEU member states to ensure enough domestic supply, but some EEU states could be exempt from the sugar ban.