Putin approves new Russian sanctions against Westerners, says Kremlin

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(Reuters) – Russian President Vladimir Putin has signed a decree on retaliatory economic sanctions against “unfriendly actions by certain foreign states and international organizations”, the Kremlin said on Tuesday.

The Russian government now has ten days to draw up a list of foreign people and companies that will be targeted by its sanctions and to define “additional criteria” for certain transactions that may be subject to restrictions.

According to the terms of this decree, Russia will prohibit the export of products and raw materials intended for the persons and entities targeted by these sanctions in retaliation for those taken by many Western countries because of the offensive launched by Russia against Ukraine on February 24.

The text also prohibits transactions with foreign individuals and companies targeted by these counter-sanctions and authorizes Russian counterparties not to fulfill their contractual obligations with regard to the targets of Russian sanctions.

(Reuters report, edited by Kevin Liffey; French version Myriam Rivet, edited by Jean-Michel Bélot)

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