President Vladimir Putin has labeled nations and corporations who have imposed sanctions or backed out of ties with Russia as “unfriendly countries,” and has not ruled out taking tough measures against them.
Putin stated in his state of the nation speech on Monday that corporations interested in doing business with Russia in the future must be certified by a government panel.
In the aftermath of heavy economic sanctions over Russia’s invasion of Ukraine, Putin also authorized a list of nations and territories committing “unfriendly acts” against Russia, its firms, and individuals.
Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, the United States, Taiwan, Ukraine, Montenegro, Switzerland, and Japan are among the other countries represented.
Debtors should create a specific type of rouble account with a Russian bank and transfer the rouble equivalent of the foreign currency amount owing, according to the central bank’s official exchange rate on the day of payment, according to the government.
Payments of more over 10 million roubles ($76,000) per month are subject to this interim arrangement for settling international debts.
The international world has reacted angrily to Russia’s invasion of Ukraine, with the EU, the United Kingdom, and the United States, among others, putting a slew of economic penalties on Moscow.