Russian President Vladimir Putin signed a decree on retaliatory economic sanctions in response to “hostile actions by certain foreign states and international organizations,” the Kremlin said today.
The document does not provide any details on which individuals or entities may be affected by the measures.
According to the decree, Russia will ban the export of products and raw materials to persons and entities that it has sanctioned.
The decree also prohibits transactions with foreign persons and companies hit by Russia’s retaliatory sanctions, and allows Russian counterparties to default on their obligations to them.
Under the decree, the Russian government has 10 days to compile lists of foreign individuals and companies to be sanctioned, as well as to define “additional criteria” for a number of transactions that could be subject to restrictions.