Stock Groups

Russia bans exports of wide range of equipment, forestry over sanctions -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A Russia honor guard holding a Russia flag as part of preparations to welcome Russian President Vladimir Putin in Beijing on June 8, 2018, outside the Great Hall of the People. REUTERS/Jason Lee

(Reuters] – Russia has banned the export of telecom, medical and auto equipment until 2022 in retaliation against Western sanctions.

More than 200 items were listed on the Export Suspension List, which also included containers and railway cars.

However, the ministry of economy stated that exports of specific types of wood and forestry products have been prohibited. It did not say which exact products.

Ministry stated, “These measures are a rational response to those imposed upon Russia and are designed at ensuring the uninterrupted functioning of key economic sectors.”

Carmaker Stellantis, which produces and sells the Peugeot (OTC:), Citroёn, Opel, Jeep and Fiat brands in Russia, was looking to start exporting locally made light commercial vehicles to Western Europe before Russia invaded Ukraine.

Interfax also reported that a source who is familiar with the preparation of legislation said Russia might temporarily prohibit grain exports from a number of ex-Soviet nations that are part of the Eurasian Economic Union, (EEU), starting March 15, and ending August 31. This could include sugar exports beyond the EEU.

EEU includes Russia, Armenia, Belarus and Kazakhstan.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]