Home » Russia moves to shield economy from ‘unfriendly’ states — RT Business News

Russia moves to shield economy from ‘unfriendly’ states — RT Business News

by fastnewz

Russia has launched a spread of measures to defend its monetary and power sectors from the actions of so-called “unfriendly” nations and organizations.

President Vladimir Putin signed a decree on Friday that prohibits entities from these nations from finishing up transactions with their shares in Russian enterprises which might be thought of ‘strategic.’ The ban will stay in pressure till the tip of the yr and could also be prolonged additional.

One other ban applies to shares in Russian banks, the checklist of which shall be ready throughout the subsequent ten days.

The decree additionally prohibited transactions associated to international participation within the Sakhalin-1 oil and gasoline challenge in Russia’s Far East.

On Wednesday, US oil and gasoline company ExxonMobil mentioned it was “engaged in transitioning” its 30% stake within the Russian oil growth challenge “to a different social gathering.”

Russia’s checklist of “unfriendly” nations stretches to 49 nations, together with the US, the UK, all the EU, Australia, Canada, Switzerland, Japan, Taiwan and others.

For extra tales on economic system & finance go to RT’s enterprise part

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