Russia responds to Western sanctions by imposing export bans on itself – foreign goods to be kept by force in Russia

As EU leaders in Versailles, France, discuss ways to reduce gas and oil dependence on Russia, President Vladimir Putin presented in Moscow the country’s response to sanctions imposed by the West.

Russia did not impose any real sanctions on any state, but is trying to overcome its economic predicament by preventing capital from escaping the country.

Russia imposed an export ban on more than 200 goods produced abroad. The ban applies, inter alia, to telecommunications equipment, agricultural supplies and electronics.

Prohibited exports also include cars, railcars and turbines, for example.

The export ban also applies to domestically sourced raw wood. All export bans will remain in place until the end of this year.

At the same time, Russia is trying to stabilize its hard-hit payment system. Exports of capital from the country will be restricted and foreign debts will in future be handled in their own currency, the ruble.

In addition, the country’s Ministry of Transport introduced a bill that would allow the foreignization of foreign leased aircraft still in the country, ie the takeover.

Russia does not intend to restrict energy exports, which are vital to its economy.

President Vladimir Putin presented Russia’s actions in a remote government session, which was also televised.

According to Putin, the West would have imposed sanctions on Russia even if Russia had not attacked Ukraine. Putin said Russia will eventually become a stronger and more independent state after the crisis.

“There are small issues and problems in the air here, but we have survived them before and we will survive them now,” Putin told Reuters.

Russia’s retaliation affects a total of 48 countries, including all EU countries and the United States.

These countries have been defined by Russia as “hostile to Russia.”