Russia Responds To Western Sanctions By Imposing Export Bans

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Western governments have placed a number of sanctions against Russia, including on oil purchases and on billionaire oligarchs considered to be close to President Vladimir Putin.

Approximately 48 countries, including the USA and the EU, will be affected.

According to the order, export exemptions could be granted for Georgia’s separatist regions of South Ossetia or

Abkhazia as well as members of Russia-led Eurasian Economic Union.

Russia’s Prime Minister Mikhail Mishustin stated that the ban will also apply to goods manufactured by Russian companies. These items include cars, rail carriages, containers, and other transport vehicles.

This comes at a time when Russia’s ex-president Dmitry Medvedev warns that assets held by western companies who have pulled out from Russia could be nationalized.

Companies have been leaving or halting investments in mass quantities, including mining and industrial giants like Caterpillar, Rio Tinto, Starbucks and Sony.