Putin supplemented counter-sanctions with increased rates of customs duties

Russian President Vladimir Putin added to the set of special economic measures introduced in response to Western sanctions. He ordered to increase export and import duties on a number of goods and raw materials, the list will be determined by the government. Corresponding decree published on the official Internet portal of legal information.

The document amends the decree “On the application of special economic measures in the field of foreign economic activity in order to ensure the security of the Russian Federation”, signed President on March 8, 2022. It was adopted as a response to Western sanctions imposed after the start of the military operation. In the original decree, President Putin instructed the government to draw up a list of foreign countries where the import of Russian products and raw materials would be restricted.

The last time the decree on special economic measures was amended was on 22 December. Then Vladimir Putin allowed the government to issue temporary permits for transactions with persons subject to Russian counter-sanctions.

Erdni Kagaltynov