Putin signs decree on retaliatory sanctions against West

Russian President Vladimir Putin has signed a decree on retaliatory economic sanctions in response to the “unfriendly actions of certain foreign states and international organizations,” the Kremlin said on Tuesday, Report informs, citing foreign media.

According to the decree, Russia will forbid the export of products and raw materials to people and entities that it has sanctioned.

The decree also prohibits transactions with foreign individuals and companies hit by Russia’s retaliatory sanctions and permits Russian counterparties not to fulfill obligations towards them.