Russian President Vladimir Putin issued a retaliatory decree Tuesday to hit “unfriendly” states with export blocks in a move that could further hinder the global market.
The move would look to terminate existing deals and restrict the export of "raw materials and products" from Russia that serve in the interest of certain foreign entities.Russian President Vladimir Putin attends a meeting with top officials via videoconference at the Novo-Ogaryovo residence outside Moscow, March 31, 2022.
Putin alleged the international sanctions are "illegitimately depriving the Russian Federation, the citizens of the Russian Federation and Russian legal entities of [their] property right[s] and restricting their property right[s]." Russia has already issued retaliatory sanctions against the U.S. and other NATO allies, but the latest threat could cause a new round of economic turmoil as it would allow Moscow to void existing deals – a move that could create global shockwaves.
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