Putin signs decree on retaliatory sanctions

Russian President Vladimir Putin signed a decree on retaliatory economic sanctions on Tuesday in response to "hostile actions by some foreign states and international organizations," Reuters reported, citing the Kremlin. According to the decree, Russia prohibits the export of products and raw materials to persons and entities that have been subject to sanctions.

The decree also prohibits transactions with foreign persons and companies affected by Russian retaliatory sanctions, and allows Russian contractors to default on their obligations.

Putin has set a 10-day deadline for the Russian government to draw up a list of people and entities that will be subject to retaliatory sanctions.

(Puls Biznesu)